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Europe Daily Bulletin No. 13087

20 December 2022
SECTORAL POLICIES / Energy
EU ministers agree on a ‘dynamic cap’ on gas prices starting from €180/MWh
Brussels, 19/12/2022 (Agence Europe)

Meeting in Brussels, EU energy ministers finally agreed, on Monday 19 December, on a legislative proposal to cap the price of gas traded on the TTF derivatives market - the benchmark for gas prices generally used in the EU - in the event of sharp rises (‘market correction mechanism’, or MCM), setting the price level triggering the cap at €180/MWh.

The negotiations were not easy and it took us a long time, (but) we managed to find an important agreement that will protect citizens...

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