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European Union agrees to set the gas price ceiling at 180 euros

The Maltese Minister of Environment and Energy, Miriam Daly, announced today, Monday December 19, that the energy ministers of the European Union agreed to set the ceiling for the price of gas in the Union at 180 euros per megawatt per hour.

”It was agreed on a price cap and when the market correction mechanism could be triggered,” Daly told reporters. “Each country has been able to compromise on several different points, with the complete understanding that we have to decide to ensure we get to a mechanism that can be activated and help calm the market.

”We will continue to monitor, especially when we talk about setting the price ceiling at 180 euros,” she added.

A source in the European Union confirmed earlier today that the energy ministers of the Union, during a meeting that brought them together today, reached a political agreement on the gas price ceiling within the framework of the market correction mechanism.

Energy ministers in Europe are seeking to agree on a mechanism to set a ceiling for wholesale gas prices, an issue that still causes great division in the European Union, as they are discussing a settlement developed in Brussels by the Czech Republic, which currently holds the rotating presidency of the European Union.

EU spending on gas imports nearly quadrupled year-on-year to €75 billion ($73.6 billion) in the second quarter of 2022, with nearly a third of that amount, or €23 billion, spent on Russian gas resources.

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Arab Iron and Steel Union

لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.

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17 Country

300.000 Employees

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