La Repubblica has learned that the EU may delay the introduction of the gas price cap

The publication indicates that, according to the EU plan, the price ceiling should come into effect under conditions that have not yet been met. EU ministers intend to finalize the draft and postpone the final decision until December,

EU energy security ministers are likely to be unable to reach an agreement on capping Russian gas prices at their November 24 meeting, so a decision could be delayed until the next summit on December 19. This is reported by the Italian newspaper La Repubblica.

According to the publication, the concept of a price ceiling in the current proposal is virtually absent, and the conditions for its introduction have not yet been met. Thus, according to the EU plan, the restriction comes into force if the price of gas on the Amsterdam Stock Exchange exceeds €275 per 1 MWh for at least two weeks, and the difference with the price of LNG should be more than €58 for at least ten days.

As La Repubblica points out, even at the time of peak prices, these two conditions were not met at the same time, and the adoption of the project in its current form may cause an increase in gas prices in Europe.

The EC proposed a price ceiling for gas at around $3,000 per 1,000 cubic meters.m Economy

The head of the European Commission, Ursula von der Leyen, advocated the introduction of marginal prices for Russian gas in September. At the same time, she noted that the EU countries managed to fill the storage facilities with gas by 80% even earlier than planned. However, no final agreement was reached. According to the FT, at least ten EU countries supported the introduction of a price cap for all suppliers, not just Russia.

Against the backdrop of gas shortages in Europe, prices for energy resources and products have risen. The European Commission has warned residents of EU countries about the upcoming hard winters due to the energy crisis.

Russian President Vladimir Putin , speaking about plans to limit prices for Russian energy resources, threatened to “cut off” oil and gas for countries where they would make political decisions that contradict contractual obligations. “We will only have one thing left to do: as in a well-known Russian fairy tale, to say: “Freeze, freeze, wolf tail,” the head of state said.

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