STRASBOURG, Oct. 18--A green light from the College of European Commissioners for a new legislative proposal on energy.
The package of measures "addresses high gas prices and ensures security of supply for this winter," the Commission announced.
The main measures approved include "joint gas purchasing, the creation of a new benchmark for LNG prices by March 2023 and, in the short term, a price correction mechanism to establish a dynamic price limit for transactions on the Ttf gas exchange; predefined solidarity rules between member states in case of supply shortages."
"Gas storage facilities in Europe," said EU Commission President Ursula von der Leyen, "are at 92 percent. The Russian share of pipeline gas has dropped to 9 percent, 2/3 of Russian supplies have been cut. Thanks to all this we are prepared to face the winter."