Today’s #TTE 🇪🇺 Energy Council was not an easy one. But we did have a clear political support for several key measures to tackle the ongoing #energy crisis.
The ministers reached political agreement on five crucial issues. 1/5
The ministers reached political agreement on five crucial issues. 1/5
First, for making joint purchases of gas a reality. We have a process in place that will allow us to pool our demand & buy 13.5bcm of gas together next year.
This prevents us from outbidding each other on the global market & helps to fill the storage. 2/5
This prevents us from outbidding each other on the global market & helps to fill the storage. 2/5
Second, to give @EU_acer the task of developing a new LNG benchmark by the end of March.
The current most popular benchmark, #TTF, no longer reflects the situation on the EU gas market & a complimentary instrument is needed. 3/5
The current most popular benchmark, #TTF, no longer reflects the situation on the EU gas market & a complimentary instrument is needed. 3/5
Third, we will develop circuit breakers for intra-day derivatives trading, to avoid excessive volatility & ease liquidity stress for energy utilities.
Fourth, to reinforce #EU #energy solidarity & make sure that in case we face emergency, no Member State will be left alone. 4/5
Fourth, to reinforce #EU #energy solidarity & make sure that in case we face emergency, no Member State will be left alone. 4/5
And fifth, we will accelerate the permitting process for technologies that can make a difference already this winter. For example, installing #solar☀️PV-s & heat pumps.
We are also establishing the principle that #renewableenergy projects are in overriding public interest. 5/5
We are also establishing the principle that #renewableenergy projects are in overriding public interest. 5/5
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