Brussels proposes to extend the agreed reduction in gas consumption by one year

The European Commission proposed this Monday a one-year extension of emergency legislation for member states to voluntarily cut gas consumption by 15% to “guarantee security of supply and price stability.”

The goal of a voluntary reduction in EU gas consumption by 15% came into force last August and included as a target that Member States reduce natural gas consumption by 15% (compared to the historical average for this period, taking into account 2017). ). until 2021) until March 31 this year, when the emergency legislation, one of the main measures taken by the public bloc to overcome the energy crisis caused by the Russian invasion of Ukraine, expired.

After European Energy Commissioner Kadri Simson told the European Parliament last week that Brussels intends to extend beyond March the target for member states to reduce gas consumption, as well as the commitment to reduce electricity consumption. during peak hours – another measure taken last year – this Monday the Commission formalized a proposal for gas consumption.

Brussels argues that “in the context of the difficult situation on the global gas market, it is important for Europe to make sure it is ready for the coming winter” and “continued gas savings will help the EU meet its gas storage targets and maintain supplies.” stability,” stating that “lower and better managed demand could also help reduce price volatility.”

The Commission highlights that “thanks to voluntary contributions, EU gas demand fell by more than 19% between August 2022 and January 2023, exceeding the target of 15% and saving Europe about 42 billion cubic meters of gas”, which “contributed significantly relieve the pressure caused by the reduction in supplies from Russia.”

Under the proposal this Monday, the voluntary target of 15% reduction in gas demand, which was agreed to cover the period from August 1, 2022 to March 31, 2023, will be maintained until March 2024.

In addition, and still in line with the Community Leader’s proposal, Member States should report savings data on a monthly basis instead of every two months, and reporting should begin to be sector-by-sector “to improve monitoring and targeting of national measures.”

This proposal will be discussed on 27 at the next meeting of the Council of Ministers of Energy scheduled for 28 March.

“Our joint efforts to reduce demand for gas have played a key role in getting through this winter well. We have made significant progress in diversifying supplies and reducing our dependence on Russia, but global gas markets are likely to remain tight in the coming months. Further reductions in gas demand will ensure we are ready for next winter and will help us reach our 90% gas storage target by November 1,” Commissioner Kadri Simson commented on Monday.