On Tuesday 7 December, the European Commission reiterated to the European press that it will not extend the market correction mechanism that was introduced as an emergency measure in 2022 at the height of the energy crisis (see EUROPE 13090/29).
This set a ceiling for wholesale gas prices at €180/MWh in the event of excessive increases. The regulation governing this mechanism, which came into force on 1 February 2023 for a period of one year, was extended in December 2023 for a further year, until 31 January 2025 (see EUROPE 13317/1). It will no longer apply from this date.
“Energy prices remain on our radar and are an absolute priority for the President and the European Commissioner for Energy, Dan Jørgensen”, said European Commission spokesperson Anna-Kaisa Itkonen, pointing out that Mr Jørgensen would shortly be presenting an action plan for affordable energy prices (see EUROPE 13545/5). The issue of high energy prices will thus be addressed in “a different context” to that of the “time-limited” emergency measures, explained Ms Itkonen. (Original version in French by Pauline Denys)