Europe

Croatia disagrees with EU Commission’s plan to cap gas prices, economy minister says

BRUSSELS (Sputnik) – Croatian authorities consider the European Commission’s proposed gas price cap of €275 per MWh too high and hope to lower it in negotiations with other EU member states , said Davor Filipovic, Croatia’s Minister of Economy and Sustainable Development. Thursday.

Earlier this week, the European Commission proposed a cap of €275 ($286) per MWh from 1 January on the last month price of the EU benchmark Dutch gas exchange TTF. According to the plan, the cap will only be triggered if the difference with his global LNG price average exceeds €55 for 10 consecutive days.

“In the morning, 15 Member States, which have long supported a gas price cap, met and agreed to amend the European Commission’s proposal,” the minister said at an extraordinary transport meeting in Brussels. Speaking to reporters following the Telecommunications and Energy Council.

As an example, the minister cited the current TTF index futures price of €126 per MWh, pointing to a forecast of €139 per MWh in the first quarter of 2023.

“We hope to reach a political agreement on December 13 and will do everything to support citizens and entrepreneurs,” Filipovic added.

Earlier in the day, Italian Energy Minister Gilberto Pichetto Flatin said in a doorstep comment before the Energy Council that at least 15 EU member states had agreed to reject the commission’s price cap plan. Stated.

Hungarian Foreign Minister Peter Sijart said the EU energy minister did not take a decision on the proposal on Thursday and the next meeting on the issue is scheduled for December 13.

After 2021, energy prices in EU countries will skyrocket as part of a global trend. Energy prices accelerated after Russia launched military operations in Ukraine in February 2022 and the EU adopted some sanctions against Russia. Energy security has climbed to the top of both global and national agendas, forcing European governments to resort to urgent measures.



https://sputniknews.com/20221125/croatia-disagrees-with-eu-commissions-gas-price-cap-plan-says-minister-of-economy–1104667525.html Croatia disagrees with EU Commission’s plan to cap gas prices, economy minister says

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