European leaders have agreed on further interventions in the energy market. The intention is to reduce the gas price further and that is ‘an important step’.
For this winter, the worst phase of the energy crisis seems to be behind us: gas stores in Europe are filled and gas prices are slightly less high. But can Europe prevent another panic in the energy market next year? European countries have been arguing for months. Last night, they came one step closer to the solution, but much remains to be worked out.
Soon, European member states will want to buy part of the gas jointly, so that they do not bid against each other and raise the price even further.
If the gas price does go through the roof, the leaders want to slow down the increase, but that has to be worked out even further.
Many EU countries have been calling for a maximum price for months, but the Netherlands and Germany have objections. They fear that gas supplies will stop if Europe refuses to pay high prices.
It’s incredibly complex. The price of gas must continue to fall, but in a way that we can continue to get the gas. And not that they deflect to Asia or to Latin America. We have to have it here.
Among other things, a way is now being sought to limit peaks in the gas price without the objections that the Netherlands and Germany see.
The European Commission has proposed a flexible limit for high price peaks. We’ll see if you can file the price for very strange things. This is complicated and needs to be further studied and elaborated by the ministers who deal with energy.
This has to be done “urgently”. And then there really must be a ‘concrete’ plan that the EU countries can decide on, the leaders agreed.
