EU gas price limit proposal, states go against

Their disagreements over the proposed border, which is high on the agenda of energy ministers, could delay the adoption of two separate packages of emergency measures to address the energy crisis.

The “is absolutely unobservable, inefficient and out of scope,” said Thursday morning Teresa Ribera, Spanish Minister for Ecological transition.

Her Malaysian counterpart, Miriam Dalli, said it was an inappropriate “for the purpose of” and “definly non-aligned dynamic in nature”.

Meanwhile, the Netherlands, a country that staunchly opposes any intervention at the award, said the instrument was <x0 meta> ” and potentially negative “” for EU supply security and financial stability.

“More homework must be done”, said Dutch Energy Minister Rob Jeten.

The Czech Republic, which holds the rotating presidency of the EU Council, intended to hold a discussion about the price limit and move forward with two separate regulations: one for joint gas purchases and a second on the fastest permits for renewable technologies.

Luxembourg, Austria, Finland, Denmark, Ireland, Estonia and the Netherlands rejected this idea, diplomats told Euronews, but the Czech Republic seemed to accept the compromise and called an extraordinary new meeting in mid-December.

At the heart of the dispute is the draft discovered just two days ago by the European Commission. The proposed border will be automatically activated, but only if two key conditions are met: If TTF prices reach or exceed $275 per megawatt per hour for at least two weeks. If TTF prices are 58m higher than the reference to the liquid natural gas market (LNG) over at least 10 days of trading in a row.