9th Dec 2023


Gas price-cap tops agenda This WEEK

  • A deal on gas price-cap is important to unlock a broader package of EU measures to rein in the high energy prices across the continent (Photo: GollyGforce)
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This week energy ministers will attempt to tie up an EU deal on a gas price-cap.

EU member states have been divided on the price-cap proposal, with for instance Germany concerned it will jeopardise its own energy security.

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Another group of countries support a more aggressive intervention, notably Poland, Romania, Croatia and Bulgaria.

EU leaders gave a push to a deal last week at their summit, but they still have yet to settle on a price level.

A deal on the cap would also unlock a broader package of EU measures to rein in the high energy prices across the continent.

The leaders discussed a price cap in a range of between €160 and €220 per megawatt hour, compared with the €275 level originally proposed by the EU Commission.

Ministers will try to clinch a deal on Monday (19 December) at a special meeting in Brussels.

On Monday, we will also find out of there is a deal among European Parliament and EU government negotiators on the agreement to reform the bloc's Emissions Trading System (ETS) and on the Social Climate Fund.

These are all part of the commission's "Fit for 55" initiative to make the EU climate neutral by 2050.

If there is an agreement as a result of negotiations over the weekend, participants are expected hold a press conference on Monday morning.

Between Monday and Wednesday a delegation of MEPs from the trade committee is set to travel to Taipei to discuss trade and investment relations.

EU environment ministers on Tuesday (20 December) are expected to discuss a proposal for a nature restoration regulation, which aims to help recover European habitats, 80 percent of which are in poor condition.

The proposal would set specific legally binding targets and obligations for nature restoration in each of the listed ecosystems — from forest and agricultural land to marine, freshwater and urban ecosystems.

Next week your Agenda writer will take a break and bake Christmas cookies. We will be back in January to keep you in the loop about what is in the EU's focus.

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