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- Energy regulators see the need to adopt gas demand-adjustment measures now to avoid higher costs later
- Regulators support a well-defined crisis response process
Europe’s energy regulators represented by the EU Agency (ACER) and the national regulators’ association (CEER) welcome the European Commission’s “Save Gas for a Safe Winter” Plan.
Reducing gas consumption now will go a long way to avoiding low levels of reserves, potential disruptions and more economically costly sudden measures in the winter. Europe’s energy regulators agree that regulations regarding security of supply should be re-evaluated in terms of their effectiveness in “addressing a longer-term supply disruption from a major supplier affecting several routes at the same time”.
Regarding the voluntary 15% demand reduction efforts in the next eight months, Europe’s energy regulators note the importance (as mentioned in the draft Regulation) that measures not unduly distort competition or the proper functioning of the internal market in gas, or endanger the security of gas supply of other Member States or of the Union and that they be market-based.
The regulators stress the need for market-based mechanisms such as auction or tender systems to incentivise energy reduction by industry, as ACER and CEER recommended in their Gas Wholesale Market Monitoring report published last week.
Access the Press Release.
