is immediately operational – Corriere.it

FROM OUR CORRESPONDENT
BRUSSELS If the European Council on Thursday and Friday were a match, it would be with a team of 17 players on one side and one of two on the other. But the two, Germany and Holland, they are very strong and have the support of Ireland and Denmark, for months they have been influencing the result and partially influencing the referee (the EU Commission). In the other team there are the 17 Member States which for weeks have been asking the Commission for a ceiling on the price of gas, including Italy, France, Belgium, Spain, Greece and Poland. Cyprus recently joined.

Unlike past summits, there is one on the table legislative proposalpresented two days ago by President Ursula von der Leyen, who among the solutions indicates as a measure of last resort thetemporary introduction of a dynamic price corridor on the transitions to the Ttf in Amsterdam (the European reference) to limit the price of gas, until it is developed a new index, by early 2023, complementary that more accurately reflects market conditions. These two measures are considered the most controversial and will see the most heated discussions, which will reflect on the conclusions of the summit. But there will also be a confrontation to ask the Commission to present a proposal for a cap on the price of gas used to produce electricity (Iberian model), which still raises questions about its effectiveness. EU leaders will not discuss the details but the principles of the Commission’s proposal.

In Brussels the doubts of Germany and Holland are considered legitimate concerns. Berlin fears that a dynamic price cap could limit gas flows to the EU. The temporary price cap is what we want to avoid, a German government source said. For Holland there is no rush because the stocks are full and it would be premature to use the term price ceiling in the conclusions. The battle will be precisely on the conclusions, with the skeptics who could push to remove the reference to the price cap, while the team of 17 would like to strengthen the concept of urgency. In the’latest draft of the conclusions circulated on Wednesday evening, viewed by Courier, The European Council invites the Council and the Commission to urgently advance work on the basis of the Commission’s proposals, assessing their impact and taking into account different energy mixes and national situations on a temporary dynamic price corridor on natural gas transactions to immediately limit prices, where the adjective immediately has an important meaning. There are then listed the other measures.

For the premier Mario Draghiwhich participates in its latest summit, it is essential that (the price cap, ed.) be made immediately operational, as he explained in his report to the Chambers before the European Council. If the text of the draft is confirmed, EU leaders are also asking for a temporary framework to limit the price of gas in electricity production to a level that helps to reduce electricity prices without changing the order of merit, prevents the increase in gas consumption, addresses financial and distribution impacts and manages flows beyond the borders of the EU; joint purchases of gas, starting with the refueling of gas storage facilities, and acceleration of negotiations with reliable partners; a new benchmark complementary by early 2023 that more accurately reflects gas market conditions; improving the functioning of energy markets; the acceleration of the ssimplification of authorization procedures for renewable energy and related networks; measures of energy solidarity in the event of gas supply interruptions in the absence of bilateral solidarity agreements; greater efforts for the energy saving.

In Brussels it is underlined that the price of gas is already falling and that the urgency of a price ceiling could decrease, and that if the cap does not enter the conclusions, it would still be on the table of the energy ministers next Tuesday. Given the emergency, it would not be a good political signal.

As for the economic situationIt is difficult to see real progress on common intervention tools, even if it is reiterated that this is an immediate priority protect families and businessesin particular the most vulnerable subjects of our societies, maintaining the equal conditions and theintegrity of the single market.

Energy is the most divisive issue and the President of the European Council has decided that it will be the first one discussed by EU leaders on Thursday afternoon. Military and economic support for Ukraine will follow (President Zelensky will intervene on video at the beginning of the summit), relations with China and