EC proposes setting a price cap for monthly gas futures in the TTF index
BRUSSELS, 22 November – RIA Novosti. European Energy Commissioner Kadri Simson recommended that the maximum monthly gas futures price in the TTF hub index be set at 275 Euros per MWh.
According to him, transactions above this price will not pass. The European Commissioner emphasized that the market correction mechanism will be automatically initiated under two conditions.
First, the price of gas exceeds a certain level for two weeks, namely 275 euros. The second is whether the difference between the TTF price and the global LNG price is 58 euros or more in ten trading days,” Simson explained.
Western countries are facing rising energy prices and rising inflation due to the sanctions imposed on Russia and the policy of giving up on Russian fuel. Against the backdrop of the rise in fuel prices, especially gas, the industry in Europe has largely lost its competitive advantages, which also affects other sectors of the economy. Also, the United States and European countries have faced record inflation for decades.
Source: Ria
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