Revised plans for gas price cap
EU agrees gas price cap mechanism
The bloc is moving ahead with revised plans to intervene in the market
EU energy ministers have finally come to an agreement on capping TTF gas prices, with the goal of protecting “citizens and the economy against excessively high prices”. The limit is lower than previously proposed, but with an additional linkage to LNG prices, while the Ice exchange has once again cautioned against the plans. Ministers have set the “market correction mechanism” to be activated automatically if the month-ahead price on the TTF exceeds €180/MWh ($191/MWh) for three working days and if that TTF contract is also "€35/MWh higher than a reference price for LNG on global markets for the same three working days”. Once activated, the mechanism will block gas futures transactions “abov
Also in this section
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
3 March 2026
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
