The leaders of the European Union urged the European Commission and the European Union Council to swiftly decide on a mechanism to lower gas costs in order to generate energy in the Union at the conclusion of their summit.
“The European Council calls on the Council and the Commission to submit concrete conclusions respecting the following further procedures… the European Union’s temporary mechanism to cut the price of gas used to produce electricity,” the concluding statement read.
The recommendations for new measures to fight the energy crisis that the European Commission submitted on Tuesday were considered by the leaders of the European Union.
He called on the leaders to make decisions by early 2023 regarding setting a new additional price “that accurately reflects the largest conditions in the gas market”, while it was reported that the European Commission proposed the establishment of such a roof for the LNG.
Additionally, they urged that a decision be made on “gathering the compulsory demand for a volume equal to 15% of storage requirements” and backed the idea of a mandatory shared gas purchase from the European Union, according to the paper.
This percentage, according to the European Commission, is almost 13. 5 billion cubic metres, and on Tuesday it proposed the start of mandatory joint gas purchases of this scale to fill storage facilities for the European Union by 2023–2024.
In the absence of bilateral solidarity agreements, leaders also need quick fixes for “energy solidarity processes in the case of a disruption in gas supply at the national, regional, or union level.”
” In addition, European Union leaders are calling for a decision on the scope of temporary dynamic prices for natural gas deals to immediately reduce bouts of high gas prices, while the European Commission had proposed on Tuesday the establishment of a temporary and applicable mechanism in the European Union to reduce high prices on the insurance fund .
From Novosti.
Leaders of the European Union are requesting a mechanism to lower gas costs.
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