The ceiling of 275 euros/megawatt-hours, proposed by the Commission, is considered unrealistic. To date, these conditions have never been met, even last August when gas prices exploded in Europe.
If the mechanism had existed in August, when prices were at record highs, it would not have been activated.
According to the Belgian Energy Minister, Tinne Van der Straeten, the conditions of the European Commission are so strict, the ceiling so high, that this mechanism may never be activated. It’s disappointment. “NWe want a device that has a clear positive impact on citizens’ bills and we doubt that this proposal will have that effect. If the mechanism had existed in August, when prices were at record highs, it would not have been activated.”, she laments.
For her part, Spanish Minister Teresa Ribera judged the Commission’s proposal “inapplicable“to cap prices, taxing it with”bad joke“and emphasizing”the great concern of a large majority of Member States” on this subject.