Curve: August price records must not be repeated

Curve: August price records must not be repeated
Curve: August price records must not be repeated

As the politician who represented Lithuania said after the meeting of the EU Transport, Telecommunications and Energy Council held on Thursday, the Community members “very clearly” said that the ceiling mechanism presented by the Commission would not be an effective means of reducing energy prices in the Community countries.

“The regulation on the gas ceiling does not satisfy the member countries,” D. Kreivys told reporters after the ministerial meeting.

The EC proposed on Tuesday that gas prices on the Dutch TTF exchange, which essentially reflects how much gas costs throughout the EU, should be capped at EUR 275/MWh.

“Regarding the ceiling, we have been very clear that the level of the ceiling is now too high. If the ceiling of 275 EUR/MWh, which is proposed by the EC, is set, the August prices would never be “cut”, said D. Kreivys.

“Such a decision is inappropriate. We said that the ceiling should be at such a level that the prices of August would never be repeated,” the minister added.

According to D. Kreivis, in order to avoid record prices at the end of summer in Europe, they should be limited to at least 200 EUR/MWh, while some countries said that the ceiling should reach 150-180 EUR/MWh.

He revealed that on December 13 the ministers will gather for another extraordinary meeting, where they should jointly adopt all three EC documents regulating the measures intended to reduce energy prices.

“I think that during these few weeks, the EC will try harder and make a more acceptable decision,” noted D. Kreivys, adding that “just talking about the ceiling allows us to have lower prices.”

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The article is in Lithuanian

Tags: Curve August price records repeated

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