Gas, extraordinary EU Council terminated: black smoke on price cap

The work of the Extraordinary Energy Council in Brussels has concluded. After almost eight hours of negotiations, interspersed with some pauses for bilateral and multilateral meetings, the ministers have not found a political agreement for the introduction of the gas price cap.

Divisions on the definition of thresholds

The European energy ministers have made “moderate progress” on the gas price ceiling but remain divided on the definition of the thresholds for the activation of the market correction mechanism according to sources familiar with the dossier. The discussion is now postponed to the last Council of the year, scheduled for 19 December. The dossier will also be on the table at the summit of EU heads of state and government on Thursday 15 December.

Pichetto Fratin: “We have an agreement on the mechanism”

“We have an agreement on the mechanism and a text on the mechanism has been finalized. Certainly there are still some points that need to be defined. And they will be defined during next Monday’s Energy Council meeting. The main point at this moment of discussion is the threshold price” also declared the Minister for the Environment and Energy Security, Gilberto Pichetto Fratin, at the end of the Extraordinary Energy Council.