EU countries ready to extend bloc's 90% gas storage target by two years

EU countries ready to extend bloc's 90% gas storage target by two years

The rules, which have come under fire for driving up energy prices in return for security of supply, should be extended until the winter of 2027, EU countries agreed today.

The Cabinet of Ministers at its meeting on April 11 adopted decisions on the support of the country's citizens and communities. According to Prime Minister Denis Shmyhal, a resolution was approved to extend the supply of natural gas to heat supply enterprises under the PSO regime until October 31 of this year.

On Friday, the Twenty-Seven endorsed the European Commission's proposal to extend the current obligation of Member States to have their gas storage facilities at 90% of their capacity before the winter season, although they ask to be able to deviate from the target in the event of market disruptions.

EU member states have agreed today to maintain the obligation to fill gas storage before winter for another two years, until 2027. At the same time, they propose a certain degree of flexibility, which is supposed to prevent artificial price jumps.

EU member states agree to flexibilities on gas storage rules « Carbon Pulse

The Council of EU member states agreed on Friday to amend the bloc's gas storage regulation, extending by two years the storage targets introduced in 2022 following Russia's invasion of Ukraine while adding some flexibilities.

The EU states want to maintain the obligation to fill their gas storage tanks by the end of 2027. Specifically, the aim is to maintain a system in force until the end of 2027, according to which the storage tanks must in principle be at least 90 percent filled at a given time, the countries informed. However, in the case of "unfavorable market conditions such as market manipulations, Member States should be allowed to deviate by up to 10 percent…