Proposal for a COUNCIL REGULATION amending Regulation (EU) 2022/2578 as regards the prolongation of its period of application

Summary

The European Union faces persistent risks to its gas supply security and high price volatility due to disruptions in Russian gas imports and tight global LNG markets. To address this, the European Commission proposes to extend by one year the existing gas market correction mechanism (MCM), established by Regulation (EU) 2022/2578, which aims to protect the economy from excessively high gas prices. This proposal is currently in the planning stage, with the MCM not having been activated yet as prices have remained below its activation thresholds.

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Source Document

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