Lifecycle
- Effective
- Last change
Country / jurisdiction: European Union · Year: 2022 · Status: In force · Level: International · Type: Voluntary
The REPowerEU Plan includes specific actions in response to the surge in energy prices:
The Gas Storage Regulation agreed on 27 June 2022 requires EU countries to fill their gas storage facilities to 80% by 1 November in 2022 and to 90% the years to follow. From an energy price perspective, this would ease markets during the winter, limiting the surge in prices
The Regulation on coordinated demand-reduction measures entered into force on 9 August, coordinating demand reduction measures for gas across the EU
The Regulation on an emergency intervention to address high energy prices, adopted on 6 October 2022, incorporates itself: Measures to reduce electricity demand
A cap for "inframarginal" producers to EUR 180/MWh
A temporary solidarity contribution on excess profits in the oil, gas, coal and refinery sectors, to be redirected to energy consumers
In April 2022, the EU Commission published the "Playing my part" plan jointly with the IEA, encouraging citizens to reduce their energy use
On 19 December 2022, EU energy ministers reached a political agreement on a Market Correction Mechanism, valid for one year and entering into force on 15 February 2022.
Official source: https://energy.ec.europa.eu/topics/markets-and-consumers/action-and-measures-energy-prices_en
Source
https://www.iea.org/policies/15690Canonical document at the regulator. Always cite this URL — not the Vantage detail page — in compliance evidence.