EU emergency energy storage power supply price

Does the gas storage obligation affect EU supply security?

In its assessment of the emergency measures, the EU Agency for the Cooperation of Energy Regulators (ACER) points out that the gas storage obligation had a long and short-term positive effect on EU supply security. However, ACER forewarns of the high cost of filling storage.

What is energy supply security?

The International Energy Agency's definition of the energy supply security stresses the availability of an adequate supply of energy at a reasonable cost. The European Commission, in its green paper on security of energy supply from 2000, takes a similar approach. Source: S. Chahri, EPRS.

What does the new energy regulation mean for Europe?

On 18 October 2022, the Commission proposed a new emergency regulation to address high energy prices and ensure the security of supply for the coming winter, aiming to enhance solidarity through better coordination of joint gas purchasing.

How has Russia impacted the EU's energy crisis?

Russia’s unjustified military aggression against Ukraine and its weaponisation of gas supplies have provoked an unprecedented energy crisis for the EU. This has led to sharp rise in energy prices and brought hardship for Europeans.

How does gas supply affect the EU economy?

gas supplies have provoked an unprecedented energy crisis for the EU. They have caused a sha p rise in energy prices and compromised our secur ty of energy supply. This places a heavy burden on the EU’s economy. This except onal situation requires a strong and coordinated response from the EU. The new measures proposed now aim to strengthen t

How can the EU ensure a secure and affordable supply of energy?

A key part of ensuring secure and affordable supplies of energy involves diversifying supply routes. In the past years the EU has been working with international partners to diversify supplies. Since 2022, the Commission has established agreements with Egypt, Israel and Azerbaijan to export natural gas to Europe.