In the European Union, wholesale gas prices must be capped under certain circumstances. The energy ministers of the EU countries agreed on Monday about the possibility of such a drastic market intervention, a spokeswoman for the EU Council of Ministers announced.
The DPA news agency has learned from diplomatic circles that the gas price on the trading platform TTF may not exceed the limit of 180 euros per megawatt hour under certain conditions. Germany voted in favour.
Most recently, the gas price on the TTF was around 110 euros per megawatt hour on Monday. In August, the price on the TTF reached a peak of more than 340 euros per megawatt hour.
The German government has long opposed such a mechanism. She feared that security of supply would then be jeopardized because suppliers could sell their gas to Asian markets, for example, where they could get higher prices.
The project mainly affects large customers trading on TTF – not end users, as is the case with the German government’s gas price brake. Consumer prices are indirectly influenced by wholesale prices. (sda/dpa)
Soource :Watson
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