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
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces
Hamas: A delegation from the Hamas leadership, led by the head of the leadership council, Mohammad Darwish, met with an Islamic Jihad delegation, headed by its Secretary-General, Ziyad al-Nakhalah

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

CNBC unveils strategic plan to revitalize Syria energy sector with US

Syria to sign deal to import electricity from Turkey, minister says

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

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemeni air defenses repel substantial part of Israeli aggression

Yemeni air defenses confront Israeli aggression on Hodeidah

  • Politics
  • 7 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

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