- Infographic – Gas market measures to secure and share supply in the EU: See full infographic
- Infographic – Fit for 55: how the EU plans to boost renewable energy: See full infographic
- Infographic – A market mechanism to limit excessive gas price spikes: See full infographic
The Council has adopted by written procedure three emergency Council regulations as regards the prolongation of their period of application, under article 122 of the Treaty on the Functioning of the European Union, designed for emergency situations.
The emergency measures were adopted last year following Russia’s war of aggression against Ukraine in order to enhance solidarity between member states, accelerate the deployment of renewable energy and protect EU citizens from excessively high energy prices.
Enhancing solidarity
Regulation (EU) 2022/2576 on enhancing solidarity through better coordination of gas purchases, reliable price benchmarks and exchanges of gas across borders includes temporary emergency measures designed to bring down high energy prices and improve gas supply security.
The regulation will now apply for one more year, until 31 December 2024.
Accelerating the deployment of renewable energy
Regulation (EU) 2022/2577 laying down a framework to accelerate the deployment of renewable energy aims to tackle the energy crisis, reduce the EU’s dependency on Russian fossil fuels and further advance the EU’s climate objectives by accelerating the permit-granting process and the deployment of renewable energy projects.
The Council has agreed to extend the period of application of certain amended provisions of the regulation until 30 June 2025. Unlike the other two emergency regulations, amendments would then go beyond the mere extension of the period of application of the regulation.
Protecting EU citizens and the economy against excessively high prices
Regulation (EU) 2022/2578 establishing a market correction mechanism to protect Union citizens and the economy against excessively high prices establishes a system of temporary measures to prevent spikes of excessively high gas prices in the EU that do not reflect prices on the world market. It applies from 1 February 2023 for a period of one year.
The regulation will be extended for one more year, until 31 January 2025.
Next steps
The regulations have been formally adopted. They will now be published in the EU’s Official Journal and enter into force.
Background
The Commission presented proposals for the three Council regulations in November 2022 under article 122 of the Treaty on the Functioning of the European Union, designed for emergency situations.
The Council adopted a package of emergency measures based on article 122 of the TFEU in December 2022 as a result of the energy crisis caused by Russia’s war of aggression against Ukraine.
The solidarity regulation will expire on 31 December 2023, while the market correction mechanism regulation and the permit-granting regulation will expire on 31 January 2024 and 30 June 2024 respectively. On 28 November 2023, the Commission adopted three proposals extending the application period of these emergency measures.
The Council reached a political agreement on the extension of the three emergency regulations on 19 December 2023.
- Energy prices and security of supply: Council agrees to extend emergency measures (press release, 19 December 2023)
- Council regulation enhancing solidarity through better coordination of gas purchases, reliable price benchmarks and exchanges of gas across borders
- Council regulation laying down a framework to accelerate the deployment of renewable energy
- Council regulation enhancing solidarity through better coordination of gas purchases, reliable price benchmarks and exchanges of gas across borders
- Council agrees on temporary mechanism to limit excessive gas prices (press release, 19 December 2023)
- Council agrees on substance of new measures on joint purchases of gas and a solidarity mechanism (press release, 24 November 2022)
- Council formally adopts regulation to speed up permits for renewable energy projects (press release, 22 December 2022)
- Energy prices and security of supply (background information)