(Tiper Stock Exchange) – The European summit of Brussels gives the general go-ahead to the Council conclusions on the energy chapter, including the proposal to set up a “market correction mechanism”, i.e. establish a maximum ceiling on the price of gas (price cap).
The agreement is born limping, because there is still no real agreement on the thresholdwhich could fluctuate in a very wide range between 160 and 220 euros per mWh. The sherpas of Germany, France and Italy are negotiating on the price threshold, each spokesperson for an interest group, Italy and 14 other countries on one side and Germany with Holland on the other. At the top of the leader discussions relating to technical details are not on the agendabut the aim is to find the balance by Monday 19 December, when the Energy Affairs Council will meet, in order to avoid the flop of the last round of negotiations.
On the subject of energy proposals by Giorgia Meloni they are perfectly aligned with those of Mario Draghi: fixing a ceiling on the price of gas, through the development of a new price indicator that corrects the distortions of the Amsterdam FTT, joint purchases, security of supplies thanks to negotiations with reliable partners, a boost to renewable energies and energy efficiency.
“From the top I expect that a step forward will be taken on the energy issueextremely relevant. A very political and non-technical theme“, said the Prime Minister on arriving in Brussels.
“The European Council awaits with interest” le Commission proposals and “the impact assessment on the structural reform of the electricity market, including the effect of gas prices on electricity prices”, reads the conclusions of the summit of heads of state and government underway in Brussels . A reference to “decoupling” of the price of electricity from that of gaswhich should favor the decarbonisation of the energy system and facilitate the adoption of renewable energies.
In addition to the energy chapter, the summit will discuss the aid to Ukraine to deal with the winter emergency and relations with the United States, also in light of theInflation Reduction Act of 750 billion dollars, which it is feared could generate “distortive and discriminatory effects towards European companies” and the risk of “unfair competition”.