The Italian Minister of Environment and Energy Security, Gilberto Bachito Frattin, said that an agreement on the ceiling of gas prices can be reached at the next meeting of the Energy Ministers of the European Union on December 13.
The European Union Energy Ministers failed at a meeting in Brussels to agree to the mechanism of correction of the European Commission, which confirms that more detailed work on the proposal is needed.
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According to reports, Belgium, Spain, Italy, Poland and Greece were among the largest opponents of the initiative on the pretext that it risks undermining the financial stability of the European Union and may lead to speculation in the market.
“If we judge the atmosphere, I can say that this adoption of the proposal is possible, because there is an intention from all members to reach the goal and reach an agreement,” according to the Italian News Agency (ANSA).
Bachito Frattin also indicated that Italy proposed during today’s talks that each of the committee’s proposal and other conditions for the energy group, including solidarity and transparency in gas purchases, were adopted as one law.
The minister stressed that the adoption of the organization mechanism depends primarily on defining the criteria for activating the ceiling, not its extent, adding that the current provisions of the proposal are unacceptable.
On Tuesday, the European Commission suggested a maximum price that begins if the price of the first month on the Dutch gas exchange exceeds 275 euros ($ 286) for two weeks and if TTF prices at the same time are 58 euros than the global liquefied global reference price for 10 days in a row..
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