Enables a framework to create a voluntary adhesion group, which does not contravene the competition rules, and guarantees strategic reserves
The Commission today adopted a set of legislative proposals to decarbonize the EU gas market by facilitating the adoption of low-carbon and renewable gases, including hydrogen, with the aim of ensuring energy security. Within this framework, Brussels is directly open to joint purchases, on a voluntary basis, of this fuel; one of the proposals defended by Spain, France and Italy to try to contain the exorbitant rise in electricity prices, which this week is setting new highs.
“Our proposals strengthen the security of gas supply and improve solidarity between Member States, to counteract price shocks and make our energy system more resilient. As requested by the Member States, we improved the coordination of gas storage in the EU and created the option of voluntary joint purchase of gas reserves ”, confirmed this Wednesday the Energy Commissioner, Kadri Simson.
The formula that is initially proposed without excessive definition, would allow the joint contracting of gas supply by the Member States to guarantee strategic stocks “in line with the EU competition rules”. With provisions on the efficient use of gas storage and a contracting formula that would be established following a kind of pattern.
Thus, the Member States will include an analysis of their storage levels and the potential risks related to the security of supply, also since the storage is owned by third-country entities in their common risk assessment at regional level. “Whenever risks are identified, they will have to introduce potential countermeasures based on a number of options, including minimum storage obligations, bidding or auctions.” Brussels would leave it up to the countries that opt for this cooperation formula “to agree on the procedures for activating these measures and on joint financing.”
They will benefit from cross-border gas exchanges and ‘transparent cross-border access’ to storage facilities. The proposal also allows Member States that so wish to establish a mechanism for the voluntary joint acquisition by Transmission System Operators (TSOs) of strategic gas reserves, which could be released in an emergency. “The voluntary mechanism must be in line with the energy market and competition rules and open to participation at a later stage by other Member States that so wish,” he insists.
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