The European Commission plans to extend emergency energy measures to 2024 to help the EU cope with the gas crisis and shield itself from surges in energy prices. The EC will propose the extension of measures following an agreement on new gas market rules, which are expected to conclude by the end of the year.
The upper limit on gas prices has divided EU member states. Some countries, including Germany, have cautioned that price restrictions could hinder access to global gas markets, while France, Poland, and other countries are pushing for the extension of these measures to curb inflation.
The energy situation in Europe is currently more favorable than last winter, thanks to countries securing gas imports from others and increasing gas storage. Russia reduced gas supplies to Europe last year, triggering an energy crisis and leading to record high energy prices and significant inflation. The EU has implemented a range of measures to address the energy crisis, including gas price limitations and a faster transition to renewable energy sources.
