On Tuesday 19 December, at the last ‘Energy’ Council under the Spanish Presidency of the EU Council, the European energy ministers agreed to extend the period of application of three emergency EU Council regulations. These were adopted last year, under Article 122 of the Treaty on the Functioning of the EU (TFEU), in response to soaring energy prices (see EUROPE 13315/9).
“All the ministers noted the importance of maintaining these regulations for longer than expected”, said Spain’s Minister for Ecological Transition, Teresa Ribera, after the Council meeting.
“We are better off than we were a year ago, but the turbulence and uncertainty surrounding geopolitical developments, the conflicts very close to Europe’s borders and the impact this may have on raw materials, are enough to clearly express the Energy Council’s desire to extend these measures, which we hope will not need to be applied”, she continued.
Market correction mechanism
Regulation (EU) 2022/2578 introduced a market correction mechanism setting a cap (€180/MWh) on the price the EU was prepared to pay for gas imports in the event of a crisis (see EUROPE 13090/29).
“Its application was never necessary, but we must remember that its adoption, just one year ago, led not only to an immediate fall in gas prices, but also to the stabilisation of gas prices that European operators were acquiring”, explained Ms Ribera.
In force since 1 February 2023, this regulation has been extended for a further year until 31 January 2025.
Strengthening solidarity
Regulation (EU) 2022/2576 increasing solidarity and coordination in gas purchases, reliable price references and cross-border exchanges of gas (see EUROPE 13261/7) has been extended for a further year, until 31 December 2024.
“This is a regulation that establishes support measures between the various States in the event of a crisis similar to the one we experienced last year. It also brings greater transparency to the mechanisms used to set gas prices”, explained the Spanish minister.
The energy ministers did, however, agree on the deletion of Article 10 on compulsory participation in demand aggregation.
Accelerating the deployment of renewable energies
Regulation (EU) 2022/2577 establishing a framework for accelerating the deployment of renewable energies, in particular through an accelerated permit-granting process, was established on 30 December 2022 for a period of 18 months (see EUROPE 13088/5).
It has been extended until 30 June 2025, in particular to facilitate the adaptation of certain temporary provisions set out in this regulation to the structural changes incorporated in the Renewable Energy Directive adopted this year (see EUROPE 13267/30).
The EU Council must now formally adopt the regulations by written procedure. They will then be published in the Official Journal of the EU and will come into force after the expiry of the current regulations. (Original version in French by Pauline Denys)