Picture: Twitter, Teresa Ribera
From pv journal in Spain
European Union vitality ministers reached an settlement earlier this week to restrict the worth of gasoline imports from Russia to €180/MWh – the identical quantity as the worth cap on renewables . The cap applies to transactions linked to the Dutch TTF index.
The transfer, stemming from the so-called “Iberian exception,” was supported by Germany, with the Netherlands and Austria abstaining, and Hungary voting towards it. It’s anticipated to be carried out on February 15, 2023.
The mechanism is activated if the gasoline value exceeds €180/MWh for 3 consecutive days. A value cap shall be in impact, however it is going to be mechanically deactivated if international costs fall beneath €145/MWh for 3 consecutive days.
Equally, the cap could also be suspended because of emergencies within the pure gasoline sector, instability within the monetary markets, a discount within the arrival of LNG within the European Union that impacts the safety of provides, or important jumps. of gasoline demand.
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