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MNI BRIEF: European Commission Proposes Ceiling On Gas Futures

(MNI) Brussels

A ceiling on gas futures would limit the retail price inflationary effect of more expensive energy.

The European Union could set a maximum ceiling for month-ahead TTF Dutch gas futures price and will avoid a ceiling on spot, over-the-counter or day-ahead prices, under European Commission proposals revealed on Thursday for discussion at next week’s energy ministers’ meeting.

The mechanism would be triggered if benchmark month-ahead TTF prices are above a pre-determined and pre-announced level for a certain number of weeks and the spread between spot TTF and spot LNG prices exceeds a specified ceiling for a set number of days, the Commission said.

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The European Union could set a maximum ceiling for month-ahead TTF Dutch gas futures price and will avoid a ceiling on spot, over-the-counter or day-ahead prices, under European Commission proposals revealed on Thursday for discussion at next week’s energy ministers’ meeting.

The mechanism would be triggered if benchmark month-ahead TTF prices are above a pre-determined and pre-announced level for a certain number of weeks and the spread between spot TTF and spot LNG prices exceeds a specified ceiling for a set number of days, the Commission said.

Keep reading...Show less