Experience with emergency gas measures: price cap, storage and saving regulations

In May 2022, in response to the energy crisis that has afflicted Europe caused by Russia’s invasion of Ukraine, the European Commission came forward with its REPowerEU Plan to wean the EU away from imports of Russian fossil fuels.

The plan is centered on accelerating the rollout of renewable energy, frontloading investment in energy efficiency, and diversifying our energy sources and suppliers.  

In its continuous struggle to find alternative energy suppliers and secure additional deliveries, the Commission has introduced a set of new emergency toolboxes regarding gas price caps, gas savings, and storage. 

This week’s FSR Insights will discuss these new emergency toolboxes and their shortcoming, the need for new measures, their strengths, and potential weak points. 

We will answer these questions with academics and review the latest related publications. With the takeaways from our reflection, we will analyse our lessons learned about this crisis and how we can do better if faced with a similar situation next winter.