Brussels (Eurotoday) – European Union nations are considering making the bloc’s binding gas storage goals more flexible, over suspicions that the rules risk inflating gas prices.
Countries including France, Germany, and the Netherlands have cautioned that the EU’s binding deadlines to fill gas storage are forcing up prices. They argue that European buyers are required to purchase large volumes of fuel by fixed deadlines, creating an opportunity for price manipulation.
Member countries of the European Union are now negotiating changes to these targets. The European Commission last week proposed keeping the binding targets until 2027, but EU countries and the European Parliament can modify the proposal and must approve the final rules.
What changes are being proposed for the EU gas targets?
A draft negotiating proposal, distributed among EU nations, suggests that countries are considering revising the EU’s requirement to fill gas storage to 90% of capacity by November 1 each year. Instead, there could be a flexible deadline ranging between October 1 and December 1.
The gas storage requirements were introduced in 2022 after Russia cut its deliveries, ensuring that EU nations had a buffer of stored fuel during the winter months when heating demand peaks. Another crucial element of the regulation is the burden-sharing mechanism. Some EU nations have storage facilities larger than their national consumption, while others lack any storage facilities.
However, all European Union countries benefit from guaranteed filling levels. The burden-sharing instrument ensures that not only EU countries with storage facilities bear the costs of meeting minimum filling targets, but all member states contribute.
Gas storage facilities are essential for ensuring the security of supply. The regulation also introduced mandatory certification for all gas storage system operators to prevent potential risks from non-EU entities exerting control over storage infrastructure.
Comments
7 responses to “EU Nations Consider Flexible Gas Storage Targets to Control Prices”
-
Oh, splendid! Because who doesn’t love a good old game of “let’s manipulate the gas prices” during winter? Flexibility is the new black, especially when it comes to filling up our tanks – très chic! 💁♂️💨
-
So now we’re juggling gas storage deadlines like it’s a game of bloody Tetris, eh? Flexibility is the new black in the EU – just hope it doesn’t come with an extra price tag! 💸😏
-
Seems like the EU is finally realizing that “one size fits all” doesn’t apply to gas storage targets—who knew? 🤷♂️ Next, they’ll be suggesting flexible deadlines for “mandatory” meetings. Cheers to more wiggle room! 🍻
-
Ah, the EU’s latest gas plan – because who wouldn’t want to play musical chairs with energy prices? 🎶 Just what we needed: a flexible deadline to keep us all guessing, like a game of ‘guess the price’ at the local pub! 🍻💰
-
Isn’t it just delightful how the EU thinks a flexible deadline for gas storage will magically stop prices from soaring? Next, they’ll suggest we use a magic wand to control inflation too! 😂💸
-
So, the EU is thinking about flexible gas storage targets now? Brilliant! Because nothing screams efficiency like a deadline that’s as wiggle-prone as a politician’s promise. 💨😏
-
Oh, how delightful! Just when you thought the price of gas couldn’t get any higher, the EU decides to make deadlines as flexible as their policies. 🤔 Who knew that “binding goals” could be so elastic? Classic Euro bureaucracy, innit? 😏💸
-
So, let me get this straight: we’re swapping rigid deadlines for a bit of flexibility in gas storage, because who wouldn’t want to play a game of “Musical Chairs” with winter heating? 🎶💨 Just what we need—more opportunities for a cheeky price hike! 😂
Last News
Kubilius: Brussels Considering New Military Intelligence Satellites
The EU is already working on developing a new constellation of secure communication satellites, known as IRIS², which aims to compete with Elon Musk’s Starlink.
Kubilius’ comments follow U.S.
Experts Caution Against the Risks of Cannabis and Synthetic Drugs at UNODC CND68 in Vienna
At the 68th session of the Commission on Narcotic Drugs (CND68) in Vienna, a key side event titled Supporting Drug Education and Prevention Initiatives gathered experts, policymakers, and former drug users to discuss the critical need for prevention efforts against substance abuse. The event was organized by the Fundación para la Mejora
Russia and Ukraine Exchange Large-Scale Drone Strikes Overnight
Moscow (Eurotoday) – Russia and Ukraine exchanged heavy aerial attacks overnight Saturday, with both countries reporting more than 100 drones over their respective regions.
The exchange comes less than 24 hours after Russian President Vladimir Putin met with U.S. envoy Steve Witkoff to discuss elements of the American proposal for a 30-day ceasefire in the conflict with Ukraine.
Volgograd region
Slovak MEPs Applaud EU Executive’s Initiatives to Support Industry and Steel Production
Romanian Far-Right Leader Simion Approved for Presidential Race
From India to Australia – Garth Davis’s Lion Chronicles a Heart-Wrenching Journey of Loss and Identity
Many people understand the deep yearning for belonging, and Garth Davis’s moving film, Lion, brings that journey to life. The story follows Saroo Brierley, a young boy who becomes lost in India and spends decades searching for his true home and identity. As you explore his extraordinary tale of perseverance and hope, you’ll find yourself reflecting on the
Member Nations Reach Agreement to Levy Tariffs on Fertilizers from Russia and Belarus
With this agreement, the Polish presidency can move forward with negotiations with the Euro
EU Nations Consider Flexible Gas Storage Targets to Control Prices
Brussels (Eurotoday) – European Union nations are considering making the bloc’s binding gas storage goals more flexible, over suspicions that the rules risk inflating gas prices.
Countries including France, Germany, and the Netherlands have cautioned that the EU’s binding deadlines to fill gas storage are forcing up prices. They argue that European buyers are required to purchase large volumes o
France gets relief as Fitch maintains credit rating
Leave a Reply