40 billion euro allocation and joint gas purchases… the most notable proposals of the European Commission on the energy crisis

The European Commission has presented a number of proposals to overcome the gas crisis in European countries, and the most notable statements from the European Commission are the following:

– The European Commission proposes to introduce a dynamic gas pricing mechanism on Europe’s largest stock exchange TTF.

– The European Commission proposes joint gas purchases for EU countries at the level of 15% of total demand.

– EU countries will have to inform the European Commission before buying gas.

– The European Commission intends to set a new price standard for liquefied natural gas by March 2023.

The European Commission proposes to allocate €40 billion to help EU residents and businesses in the midst of an energy crisis.

Until March 2023, the EU must reduce monthly gas consumption by 15%.

– The European Commission proposes to oblige EU countries to share gas with each other in case of an emergency.

Source: TASS