Damien Genicot Profile picture
Dec 19 9 tweets 6 min read
Today, EU energy ministers are gathering in Brussels for a (last?🙏) #Energy Council with a very busy agenda 👇
They must reach a deal on the TTF gas #priceCap (so-called ‘market correction mechanism’)
"I sincerely hope that this is definitely the last energy council under the 🇨🇿Presidency. We have to agree on a mechanism which would prevent the European households and businesses from high gas price spikes as we have seen during last summer", says @JozefSikela at his arrival
@JozefSikela "I think the European households and the businesses expect from us to act and I do not see any reason not to be able to agree today", he adds
@JozefSikela Answering a question on the level of the cap, he says: "I believe that the figure will start with 1" (190€/MWh?)
@JozefSikela He is ready to use qualified majority if needed: "I would which to have unanimous alignment but my target today is to deblock the blocking minority and to have at least a qualified majority"
@JozefSikela "Any rate between 150 and 190-200 would work. I think 188 (the new number circulating) would give the right signal to the market", says 🇬🇷 minister @KostasSkrekas about the level of the gas price cap
@JozefSikela @KostasSkrekas La France est "confortable" avec la proposition de la Présidence tchèque de 188 euros, a dit @AgnesRunacher, soulignant qu'elle défendait un niveau compris entre 160 et 200
@JozefSikela @KostasSkrekas @AgnesRunacher For 🇲🇹 minister @Miriamdalli, the cap the Presidency is proposing (188€/MWh) "is a good step in the right direction". However, she added that Malta would prefer a lower one
@JozefSikela @KostasSkrekas @AgnesRunacher @Miriamdalli The answer from 🇩🇪minister Robert Habeck when it comes to the potential qualified majority vote 👇

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More from @GenicotD

Oct 17
#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) ImageImageImage
-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)
Read 7 tweets

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