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
28 September 2023
Oil minister Oun sends out cautiously optimistic message on oil and gas outlook and says pilot project ready to unlock huge shale reserves key to further growth
27 September 2023
Regional industry body ANGEA remains bullish about Asia's adoption of gas and LNG, despite elevated prices and logistical challenges
26 September 2023
Half a century after the 1973 conflict, the world is dramatically different. But OPEC’s power remains
26 September 2023
Bottlenecks continue to constrain gas-rich Appalachia, and relief may not be in the pipeline