EU extends emergency gas price cap by one year to mitigate price volatility
EU has extended gas price cap for a year to shield consumers from excessive price volatility. The price limit was to end in Feb'24 and has been extended till Jan'25. The price gap is designed at 180 euros/MWh, however, European gas prices remained well below this threshold. The prices were hovering at 300 euros/MWh on the front-month Dutch TTF gas contract in August 2022 and is currently at around 34 euros/MWh assessed on 19 Dec'23.