Energy market: price cap gas and other price containment measures extended by 1 year


The EU ministers have decided to extend measures to reassure the energy market, including the price cap on gas, for another year, until 31 December 2024.

The green light from the European Council also concerns the renewal, for another year as well, of the rules for joint procurement and accelerated authorisations for renewable energies.

"The price cap on gas has been a useful deterrent tool in the gas markets to ward off speculative risks, increasing the resilience and stability of the Continent's energy systems," said the Italian Minister for the Environment and Energy Security, Gilberto Picchetto Fratin. "On behalf of our country, which had been its promoter, we asked for and obtained the renewal for one year of the gas price cap clause: today's prices are not those of a year ago, but tensions remain, and we must keep our defence mechanisms active at all times".