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EU Sets Gas Price Cap As “Last Resort” At €275/MWh

NATURAL GAS

The European Commission proposed an emergency break on natural gas prices to prevent price surges according to European Commissioner for Energy Kadri Simson.

  • EU proposes emergency cap on benchmark gas futures at €275/MWh, for when TTF won’t reflect market fundamentals.
  • The gas price mechanism will be “of last resort”.
  • The EU energy ministers will discuss the proposals on Thursday as the proposal will still need approval from national governments.
  • The TTF front-month contract has been rising since the announcement and traded last at €119.775/MWh.

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