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European Union countries agree to cap gas at 180 euros per megawatt hour


12/19/2022

Updated at 4:56 PM.

European Union member states reached an agreement on Monday to apply a ceiling of 180 euros to the price of gas imports into the European Union, the Czech Council Presidency reported, a deal that was finally backed by Germany, but with the Netherlands. Austria abstained from the vote and Hungary opposed.

The twenty-seven energy ministers came to this meeting with a mandate to agree on a market correction mechanism, after the ultimatum that European leaders gave them last Thursday in order to obtain a tool in 2023 to avoid excessive price increases in the European market. .

According to the agreement reached, the mechanism will be triggered when at the same time 180 euros has been exceeded in the European market for three consecutive days and there is a price difference of 35 euros with respect to the international markets.

(there will be an expansion)



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