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The proposal from the EU Commission to impose a ceiling price on natural gas

The European Union (EU) Commission has proposed a ceiling price of 275 euros per megawatt-hour on the forward price of natural gas.

The proposal from the EU Commission to impose a ceiling price on natural gas

According to the proposal prepared by the EU Commission, a ceiling price will be applied to the November futures gas contract traded at TTF, the Netherlands-based virtual natural gas trading point with the deepest depth in Europe.

In the Commission's statement, it was stated that the ceiling price in question would be 275 euros per megawatt hour.

Energy ministers of EU countries will meet on 24 November to evaluate the Commission's proposal.

Due to the Kovid-19 outbreak and the war between Russia and Ukraine, EU countries have recently had to pay high prices for natural gas.

The gas futures contract price traded on the TTF rose to 340 euros per megawatt-hour in August, while today it is trading at 119.5 euros.

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