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
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
Israeli media: 32% of Americans still support "Israel's" war on Hamas, while 60% oppose it.
Israeli media: Core US support for "Israel" hits its lowest, while support for Palestine reaches its highest levels.
Al Mayadeen's correspondent reports martyrs, injuries in Israeli bombardment of home in Heker al-Jame area in Deir al-Balah, central Gaza.
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children

EU adopts gas market correction mechanism with floating price

  • By Al Mayadeen English
  • Source: Agencies
  • 22 Dec 2022 21:28
3 Min Read

The EU attempts to "protect citizens and the economy against excessively high prices"

  • x
  • EU adopts gas market correction mechanism with floating price
    Gas utilities (AP)

The European Union has adopted a mechanism for correcting the gas market with a floating price limit, according to the EU Council on Thursday.

"The Council formally adopted a regulation that sets a market correction mechanism to protect citizens and the economy against excessively high prices.

"The regulation aims to limit episodes of excessive gas prices in the EU that do not reflect world market prices while ensuring the security of energy supply and the stability of financial markets," the statement says.  

According to the ICE exchange, gas in Europe ended trading on Thursday, down 5.8% to a price of $1,009.4 per thousand cubic meters, coming on a decline for the fifth day in a row.

TTF's January futures dropped to $996.1 per thousand cubic meters in the last hour of trading. This would mark the first day of trading in three digits since October 25.

On Monday, after four months of the debacle, EU energy ministers agreed on setting a price cap for natural gas with Malta's minister announcing that the threshold was 180 euros per megawatt hour.

Related News

Report questions Turkey’s role in future European defense plans

Majority of Germans disapprove of von der Leyen role in US-EU deal

"We are speaking about a price cap set at 180 euros," Maltese Energy Minister Miriam Dalli said. "It wasn't an easy thing to achieve."

The deal opens the door to other steps, such as cooperative gas purchases and a prospective new benchmark for gas pricing, to alleviate the energy crisis that Europe is experiencing as a result of its imposed sanctions on Russia.

One group sought to urgently lower gas prices by capping the maximum price that may be charged for the gas used to generate power. 

The other, backed by economic powerhouse Germany, was wary of a price restriction that could be triggered too easily and deter the supply of liquefied natural gas (LNG) to Asia's more lucrative markets.

Germany ultimately supported the 180-euro price restriction, which was far less than the 275-euro cap that the European Commission had initially suggested, as per an EU ambassador.

On Monday, the benchmark price for pipeline-delivered natural gas in Europe was trading at just under 112 euros per megawatt hour. Over the summer, it briefly rose to close to 340 euros per megawatt hour.

Kremlin Spokesperson Dmitry Peskov said the attempt to control gas prices is unacceptable, stressing that Moscow will make the proper decision, as it did with the regulation on oil.

  • European Union

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

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