The European trade association, EFET, disagrees with ACER’s and ESMA’s impact assessment on the EU gas price cap by saying it could have serious gas market implications, it said.

• "We agree that supply shortages and physical constraints are the key reasons for high energy prices that cannot be fixed by mechanism or any other form of a market cap," EFET said.
• "Risks of the market correction mechanism include adverse impact on prices, gas flows, clearing and the reduced ability to trade," it said.
• ACER and ESMA both concluded in reports on 23 Jan that there had been no significant impact identified since the mechanism has been adopted last month, but it could have an impact on financial and energy markets in the future.