Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Sources to Al Mayadeen: Extending the snapback mechanism deadline will test how independent Europeans truly are from the US.
Sources to Al Mayadeen: Activating the snapback mechanism will nullify the Cairo Agreement, shut the door on cooperation between the IAEA and Tehran, and bar inspections.
Sources to Al Mayadeen: The diplomatic window remains open, but signs of activating the snapback sanctions mechanism on Iran are increasing.
Sources to Al Mayadeen: Although the Cairo Agreement meets an important part of European demands, they have begun speaking of new conditions in recent communications.
Sources to Al Mayadeen: European countries show no independence in their stance toward Iran during the talks.
Israeli occupation forces issued bombing threats to bomb civilian buildings in Southern Lebanon.
Israeli media: Person behind shooting operation at Allenby Crossing is a Jordanian Army soldier.
Israeli media citing Emergency Services: Both wounded in Allenby shooting operation now dead.
Israeli media: One soldier wounded at Allenby crossing now confirmed killed.
Israeli media: Preliminary reports of shooting operation at Allenby crossing with Jordan.

EC to propose automatic mechanism to regulate gas price hikes

  • 22 Nov 2022 19:09
2 Min Read

The European Commission to present a proposition on Tuesday that puts a ceiling on monthly gas prices from the TTF hub

  • x
  • asdasd
    Headquarters of European Commission in Brussels.

According to sources to Sputnik, the European Commission (EC) submitted a proposal to establish a "correction mechanism" over a one-year duration to try and put a limit on "episodes of excessive gas prices".

The main concentration of the newly suggested mechanism is at EU's largest gas hub, the TTF.

 "Today we are making a proposal on a market correction mechanism," the source told the news outlet.

"We're not limiting high prices here, the purpose of the mechanism is to limit episodes of excessive gas prices," noting that TTF hub prices are the main focus.

The EC first suggested the proposal back in October and drafted later a legislative proposal to submit to members of the union for the final decision. 

Related News

EU declares largest global Ukraine support package of $200 billion

CNBC unveils strategic plan to revitalize Syria energy sector with US

The proposal is set to be presented on Tuesday for consideration by the member states and is expected to take place at an extraordinary council of energy ministers on November 24.

However, the mechanism will "be activated if certain conditions are met," rather than directly after the approval the source added.

The European Commissioner for Energy Kadri Simson said that the commission suggests setting a price cap for monthly gas futures on the TTF index at 275 euros per MWh, adding that in case the price crosses the upper limit, the mechanism will automatically launch.

A flashback

Russian Deputy Prime Minister Alexander Novak affirmed, on Monday, that Russia will not send oil and petroleum products to nations that use the price-cap approach; instead, Moscow will reroute supplies to market-oriented allies or limit production entirely.

Novak’s remarks came in light of the G7's recent decision to cap the prices of Russian oil in an effort to prevent Russia from profiteering from its oil revenues.

The cap is scheduled to be implemented in full force from December 5 on sea-borne oil shipments, with a second cap on oil products from February 5.

  • Energy crisis
  • gas
  • EU

Most Read

Why is Choose Love using a firm with British and US intelligence connections to run a pro-Palestine musical event? (Al Mayadeen English; Illustrated by Batoul Chamas)

Together for Palestine: Troubling questions about the organisers of this huge event

  • Opinion
  • 17 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A Hezbollah supporter who lost his sight in a pager attack carried out by "Israel" on Sept. 17, 2024, covers his eyes with a red headband inscribed with the name "Hussein" during Ashoura, July 6, 2025 (AP)
Politics

'We Have Recovered': Lebanon marks 1st anniversary of Pager Attack

The Arab neighborhood of El Za'im, on the outskirts of east Occupied Al-Quds in the West Bank, near where Israeli government says housing units will be built as part of the E1 settlement project, Thursday, August 21, 2025. (AP Photo/Ohad Zwigenberg)
Palestine

'Israel’s' deliberate policies drive West Bank economy toward collapse

Ben & Jerry's ice cream shop, Wednesday, Feb. 26, 2025, in Cambridge, Mass. (AP Photo/Charles Krupa)
Politics

Ben & Jerry’s co-founder resigns over parent company curbing activism

Trump’s approval rating falls to new low in second term: Poll
US & Canada

Trump’s approval rating falls to new low in second term: Poll

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS