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Extraordinary Transport, Telecommunications and Energy Council (Energy), 24 November 2022, 24 November 2022
Main results
EU energy ministers agreed on the content of a Council regulation on enhancing solidarity through better coordination of gas purchases, exchanges of gas across borders and reliable price benchmarks.
The objective of this regulation is to make the European energy purchase platform operational by setting temporary rules on demand aggregation and joint purchasing on global markets, reliable benchmarks for LNG, gas price volatility management and cross-border solidarity measures.
Ministers agreed on the content of a Council regulation laying down a temporary framework to accelerate the deployment of renewable energy.
The purpose of this regulation is to fast-track the simplification of permitting procedures for renewable energy projects. It focusses on specific technologies and types of projects which have the highest potential for quick deployment and the least impact on the environment.
The Member States have once again proved that unity and solidarity are not empty words but the real, fundamental values of the European Union. Together we are stronger, together we can defeat the evil. We will continue to work on our resilience so that no one can use energy as a weapon against us ever again.
Jozef SÃkela, Czech minister of industry and trade
Gas market measures to secure and share supply in the EU (infographic)
EU energy ministers held an exchange of views on a proposal for a Council Regulation on a gas market correction mechanism following on a presentation by the Commission.
The proposal is a temporary emergency measure based on article 122 of the Treaty on the Functioning of the EU, introducing a market correction mechanism on the price of certain gas exchanges on the Title Transfer Facility (TTF), which can be triggered and deactivated when certain conditions on the market are met, and can be suspended if needed.
Ministers held a preliminary exchange of views, underlining that further detailed work was needed on the proposal. Many ministers supported the objectives of the proposal, while indicating that the conditions to activate the mechanism are too severe. Some would like to see the scope of the mechanism extended to other products or other trading hubs. A number of ministers expressed concerns about the concept of such a mechanism and the impacts it could have on security of supply, calling for more safeguards.
The presidency concluded that more work will be needed to agree on the parameters of the mechanism and assured it would do its utmost to progress towards a political agreement on the proposal as soon as possible.
Ukrainian minister of energy German Galushchenko addressed EU energy ministers through a video connection, informing them about recent damages that resulted in several blackouts across the country. As a consequence, Moldova also faces energy shortages due to interconnections with Ukraine.
The Member States have once again proved that unity and solidarity are not empty words but the real, fundamental values of the European Union. Together we are stronger, together we can defeat the evil. We will continue to work on our resilience so that no one can use energy as a weapon against us ever again.
