The EU estabilized gas price cap at 180 EUR M/Wh is currently being widely commented on by representatives of the political and economic world.
- Kremlin: EU gas price cap is an unacceptable attack on the free market commodity prices
- International Exchange (ICE): We will see if we can maintain a fair ordering of markets for the TTF gas hub from the Netherlands. We will examine the details of the EU gas price cap and its viability. EU gas price cap threatens financial stability.
- EU Energy Commissioner: EU ready to suspend cap if regulators' analyses show risks outweigh benefits. The gas price cap was opposed by only one member country. This agreement includes precautionary measures in case the gas price cap results in increased margin calls. Winter will be no more difficult for filling storage facilities this year than filling gas storage facilities next year;
- German Economy Minister Robert Habeck: Germany and I remain skeptical about the gas price cap mechanism.
- Czech Industry Minister: The cap will apply to all European gas trading hubs, but the commission may decide to exclude some. The cap will apply to TTF contracts one month, three months or one year in advance. This is a dynamic price cap, not a fixed one. If the price on TTF contracts one month in advance exceeds 180 EUR/MWH for three days, the limit will be triggered. The agreement will protect citizens and businesses from excessive increases in gas prices.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
