Thread by @GenicotD

#EnergyCrisis. Tomorrow, @EU_Commission will present a new package of emergency measures to deal with high energy prices. @AgencEurope got the leaks of the communication and the proposal for a Council regulation. According to these documents, Commission intends to propose:
(1/7)

-a new complementary price benchmark for LNG before the next filling season (early 2023)
-(in the meantime) a temporary mechanism to limit prices via the TTF. When triggered, this mechanism would establish a dynamic price limit for transactions on the #TTF
(2/7)

-a new temporary intra-day price spike cap mechanism
-(On joint purchasing of gas) A mandatory participation by MS in the EU gas demand aggregation for at least 15% of their storage filling volume
-default rules on solidarity to boost bilateral solidarity agreements
(3/7)

-measures allowing MS to exceptionally reduce non-essential consumption and redefine who are protected consumers
-amend the Temporary Crisis Framework for State Aid before the end of October
-2 delegated acts to ease the increased liquidity pressure in derivative markets
(4/7)

-a Council recommendation on strengthening the resilience of critical infrastructure
-make the cohesion policy framework more flexible
(5/7)

the draft communication also underlines that the Commission will develop "ways to limit the impact of high gas prices on electricity prices". However, it stresses that the extension of the Iberian mechanism to the whole EU "bears some risks". (6/7)

"A solution needs to be designed that works for all MS and that is in line with our wider goals: not increasing gas consumption and managing flows beyond the EU’s borders" (7/7)