The recently proposed regulation by the European Commission for the correction of the price of natural gas represents rather an invitation to price increases, and not a capping mechanism, wrote on Facebook the Minister of Energy, Virgil Popescu, who participated on Thursday in the extraordinary meeting of the TTE - Energy Council, organized in Brussels, in the context of discussions at the European level on the management of the effects of the energy crisis.
"During the discussions regarding the natural gas price correction mechanism, we reiterated Romania's request regarding the introduction of a general ceiling for all natural gas transactions in the EU. The presented regulation only partially responds to the requests made by Romania as well as by other member states in this regard. The current level of the thresholds included in the regulation (a price of derivatives above 275 euros for 2 weeks and an excess of the Title Transfer Facility - TTF - price by 58 euros compared to other reference prices for LNG for 10 consecutive trading days within the period of two weeks) represents an invitation to increase the price of natural gas and not a capping mechanism. We emphasized the importance of having realistic and flexible activation conditions so that the mechanism responds to the requests of the European Council Conclusions of October 2022, in order to immediately limit excessive price episodes for natural gas," Popescu said.
"I supported the importance of the urgent activation of the European platform for the joint purchase of natural gas, with voluntary participation by companies and ensuring a balanced distribution of additional gas volumes. Regarding solidarity measures between member states in the event of a supply crisis, I supported the importance of protecting the national industry, ensuring a fair compensation for the gas sold in a spirit of solidarity, as well as the possibility that the member states can voluntarily conclude solidarity agreements with the states of the Energy Community," the minister pointed out.
"During the negotiations, I appreciated the reflection in the text of the regulation of the importance of protecting the stability of the electrical network, of the concordance with the existing regulations on environmental protection and of ensuring reliable procedural terms, elements supported by Romania within the negotiations," the Romanian official stated.AGERPRES
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