31/01/25 (Agence Europe) – This 31 January 2025 marked the end of the market correction mechanism (MCM) for capping the wholesale price of gas (at €180/MWh), introduced in 2022 to deal with soaring energy prices. Although the mechanism has never been activated, several MEPs have recently called for it to be extended and for the ceiling to be lowered to prevent a further spike in prices for consumers, at a time when gas prices on the TTF exchange have exceeded €50/MWh for the first time since 2023 (see EUROPE 13561/9). However, the European Commission has repeatedly explained that it will not be extending this emergency measure and that it will hereafter rely on more structural strategies, notably within its ‘Action Plan for Affordable Energy’, due to be presented on 26 February (see EUROPE 13552/5). (PLD)