European Fee agrees on €180/MWh cap for Russian gasoline – pv journal Worldwide

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From pv journal Spain

The vitality ministers of the European Union reached an settlement earlier this week to restrict the worth of gasoline imports from Russia to €180/MWh – the identical worth as the worth cap on renewables. The cap will apply to transactions linked to the Dutch TTF index.

The measure, which stems from what is named the “Iberian exception,” was supported by Germany, with the Netherlands and Austria abstaining, and Hungary voting in opposition to it. It’s anticipated to enter drive on Feb. 15, 2023.

The mechanism can be activated when the gasoline value exceeds €180/MWh for 3 consecutive days. A value restrict will then go into impact, however it is going to be robotically deactivated when international costs dip beneath €145/MWh for 3 consecutive days.

Equally, the cap might be suspended as a result of emergencies within the pure gasoline sector, instability in monetary markets, declines in LNG arrivals to the European Union that have an effect on the safety of provides, or important jumps in gasoline demand.

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