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EU's plan for high gas prices
EU Gas
Simon Ferrie
15 December 2022
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EU TTF price cap proposals stoke alarm

The bloc’s plans are intended to shield consumers from high gas prices but have been criticised as unlikely to benefit end-users and for posing significant additional risks

Market participants have warned of unintended consequences for risk management and security of supply stemming from EU proposals to cap front-month TTF gas prices at €275/MWh ($290/MWh). The plans have also faced stiff criticism from some politicians, warning the suggested price ceiling is too high to protect end-users. The EU has proposed the “gas market correction mechanism” as a temporary measure, but the bloc’s energy ministers have yet to come to an agreement. “Many [ministers] supported the objectives of the proposals,” an energy council statement confirms, “while indicating that the conditions for activating the mechanism were too strict”—specifically that a €275/MWh ceiling is too hi

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