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.
