Following the entry into force of the Regulation on the ‘Market Correction Mechanism’ (MCM) capping gas prices (see EUROPE B13112A28), the European Commission will propose to set up another MCM for derivatives linked to virtual trading points in the EU other than the Title Transfer Facility (TTF).
According to a document obtained by EUROPE, the European Commission is planning to set up a MCM for other virtual trading points (VTPs) due to expire within the next month to year.
VTPs are...