Legal News

European Commission releases report on the Solidarity Regulation's impact

Published on: 29 September 2023
Published by LNB News

LNB News 29/09/2023

Document Information

Issue Date: 29 September 2023

Published Date: 29 September 2023

Jurisdiction(s): United Kingdom

Article summary

The European Commission has published a report, reviewing the Solidarity Regulation, adopted in December 2022, and its role in stabilising energy markets and ensuring an adequate gas supply to the EU between January 2023 and September 2023. The Regulation adopts measures to jointly purchase gas and tackle gas supply emergencies, limit gas prices, and enhance transparency which resulted in an optimisation of the use of LNG and storage capacities. The gas storage levels reached 90% by 18 August 2023, significantly ahead of the legal deadline of 1 November 2023. The EU Energy Platform has also contributed to increasing market transparency and to the EU’s supply diversification and storage filling for winter 2023-2024.

Popular documents