La Repubblica: The EU may postpone the decision on the gas price ceiling until December, the publication indicates that, according to the EU plan, the price ceiling should begin to operate under conditions that have not yet been met. EU ministers intend to finalize the project and postpone the final decision until December, writes La Repubblica
The ministers of energy security of the EU countries will probably not be able to reach an agreement on limiting prices for Russian gas at a meeting on November 24, so the decision may be postponed until the next summit, which will be held on December 19. This is reported by the Italian newspaper La Repubblica.
According to the publication, the concept of a price ceiling in the current proposal is virtually absent, and the conditions for its introduction have not yet been met. So, according to the EU plan, the restriction comes into force if the gas price for at least two weeks exceeds 275 per 1 MWH on the Amsterdam Stock Exchange, and the difference with the LNG price should be greater than 58 for at least ten days.
As La Repubblica points out, even at times of peak prices, these two conditions were not met simultaneously, and the adoption of the project in its current form may cause gas prices to rise in Europe.
The introduction of marginal prices for Russian gas in September was supported by the head of the European Commission, Ursula von der Leyen. At that time, she noted that the EU countries managed to fill gas storage facilities by 80% even earlier than planned. However, the final agreement could not be reached. According to the FT, at least ten EU countries supported the introduction of a price ceiling for all suppliers, not just from Russia.
Against the background of gas shortages in Europe, prices for energy resources and products have increased. The European Commission has warned residents of EU countries about the upcoming difficult winters due to the energy crisis.
Russian President Vladimir Putin, speaking about plans to limit prices for Russian energy carriers, threatened to “block” oil and gas for countries where political decisions will be made that contradict contractual obligations. “We will only have one thing left: as in the famous Russian fairy tale, to sentence: “Freeze, freeze, wolf’s tail,” the head of state said.
Read on RBC Pro “Detsky Mir” is going to leave the exchange. Who can follow him Companies around the world are cutting staff. Who will be fired first, Which products were in high demand for Wildberries during the mobilization, How Louis Vuitton could not register a branded print since 1889
Authors Tags Subscribe to RuTube RBC Live broadcasts, videos and recordings of broadcasts on our RuTube channel