Gas returns to around 100 euros per megawatt hour after hitting a session low a 92.8 euros. Hourly exchanges, immediate, they even slipped into negative. Those who own gas are temporarily willing to pay to get rid of it. Anomalous heat, forecasts of a not particularly cold winter, full stocks and a temporary excess of LNG supply explain the decline in recent days. The average European level of storage is 93.6%, in Germany it reaches 97.5%, in Italy at 94.8%.
“The EU leaders have given us a direction, today we will continue with a more technical discussion to get to a package approval, we hope to reach it by the end of November “. This was stated by the Minister of Industry of the Czech Republic, Jozef Sikelawhich holds the six-month presidency of the EU, reaching the Energy Council in Luxembourg. “We must have a tool for cope with price volatilitywinter is coming and it is extremely important to have it ”, highlighted the minister, explaining that on the price cap “the game” between EU countries “is not over yet”. “We will take a step forward to have alignment on energy price measures. We want to maintain unity and act together and not against each other, ”she added.
A decision on the “mechanism of a gas price cap” is expected “al next EU Council of Energy Ministers“. This was indicated by the German Minister for the Economy, Robert Habeck, arriving at the meeting in Luxembourg. “The work continues constantly”, Habeck underlined, describing the political agreement reached by the EU leaders last Friday as “a good success”. “We want dynamic price limits, we must maintain security of supply” and “prevent speculative swings on the stock exchanges so as not to increase the market’s susceptibility to stressful situations”, he highlighted. “Joint purchases” of gas “in the EU are the most efficient way to keep the price of gas low,” added Habeck.
“The decoupling of the price of gas and electricity is a winner for the whole of the EU if it is applied by all countries, and that is why we will continue to work on this ”. The French Minister of Industry said so Agnès Pannier-Runacher on the sidelines of the Energy Council in Luxembourg. “We have to go further” than just common gas purchases, “we have a very clear mandate from the European Council that we must respect with measures”, he highlighted, appealing to “find all the systems that allow us to lower the price of gas. gas for citizens and companies “.
“Today there is the meeting of European energy ministers following the European Council, and therefore the agreement of the prime ministers a few days ago, to work on the issue on the agenda”, or “the question of define a corridor, as well as a technical mechanism for measuring the gas system, and therefore also to overcome what is the current TTF system. In the morning there will be a discussion and there will be assessments “, said the new Minister of the Environment and Energy Security. Gilberto Pichetto Fratinon its European debut