Media: EU considers lowering gas price ceiling

Bloomberg reported that the Czech government, which holds the European Union presidency, has proposed lowering the proposed gas price ceiling from 275 euros per megawatt hour to 188 euros.

The agency said: “The Czech government has proposed lowering the ceiling to 188 euros per MWh, compared to the 275 euros ceiling proposed by the European Commission last month.”

She pointed out that within the framework of the Prague project, a mechanism for adjusting gas prices is launched if futures prices for a month and a year exceed the TTF index of 188 euros for a period of three days.

The agency previously reported that the cost of Europe’s withdrawal of Russian gas as part of its sanctions against Russia was $1 trillion in the first phase of an energy crisis not seen in decades, warning Europe of a sharp economic downturn.

Source: News