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EU Gas Price Cap Has No Measurable Market Impact: ESMA, ACER

NATURAL GAS

The EU’s temporary price cap on natural gas has no measurable impact on the market, in line with the findings of a preliminary report in January, according to regulators ACER and ESMA.

  • ACER says that there are “no technical reasons” to review the key design elements of the market correction mechanism. ACER also find valid reasons for the cap to be extended to other virtual trading points where the level of trading is modest to high.
  • The lack of a measurable market impact doesn’t mean the cap has no effect, as current conditions are reflective of the high level of gas storage and low gas prices, ESMA said.
  • ESMA says market participants are preparing for a scenario where the market correction mechanism could be activated in the future, pointing to the fact that ICE plans to open parallel natural gas market in London.
Energy BulletsCommodities
Energy BulletsCommodities

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