The European Commission officially proposed a 'Market Correction Mechanism' to protect the bloc's 'businesses and households from episodes of excessively high gas prices'. The V4 is scheduled to meet earlier today to discuss the latest proposal and other areas related to the bloc's energy policy.
The European Commission 'welcomed' a provisional deal on the Land Use, Land Use Change and Forestry (LULUCF) regulation, reached with the European Parliament and Council to increase the EU's target for net carbon removals by natural sinks to 310 million tonnes of CO2 equivalent by 2030.
The European Commission approved a provisional agreement on the EU's Effort Sharing Regulation, establishing a binding annual GHG emission targets for Member States in sectors which are currently not included in the EU-ETS.
Aiding efforts in tackling the crisis, Moldova's TSO, Moldovatransgaz launched capacity bidding on the Regional Booking Platform, whole the EU announced the bloc's support of 200 million euros for the country's energy security.
Ursula von der Leyen has announced a substantial energy support package of 1 billion euros in EU grants to aid the Western Balkans in tackling the consequences of the energy crisis and build resilience in the short and medium term.
The Industry Advisory Group (IAG) supporting the EU Energy Platform held its inaugural meeting: an opportunity for a detailed discussion on the practical and operational issues relating to joint purchases of natural gas.
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