| Author (Corporate) | Council of the European Union |
|---|---|
| Series Title | Official Journal of the European Union |
| Series Details | L 206, Pages 1-10 |
| Publication Date | 08/08/2022 |
| Content Type | Blog & Commentary, Legislation, News, Policy-making |
Summary:Regulation (EU) 2022/1369 - adopted by the Council of the European Union on 5 August 2022 - aimed at improving the coordination framework for national gas demand reduction measures in case of severe disruption of gas supply from Russia. Further information:The supply of gas from Russia increasingly registered disruption since 2021, a move understood as a deliberate attempt to use energy as a political weapon. This was further exacerbated by Russia's invasion of Ukraine. A number of Member States of the European Union (EU) had to engage in crisis action, and the supply shock also had an impact on the price of gas, price of electricity, inflation, and the overall EU financial and macroeconomic stability. This Regulation establishes rules to address a situation of severe difficulties in the supply of gas, with a view to safeguarding EU security of gas supply, in a spirit of solidarity. Those rules include improved coordination, monitoring of and reporting on national gas demand-reduction measures and the possibility for the Council to declare, on a proposal from the European Commission, a Union alert as an EU-specific crisis level, triggering a mandatory EU-wide demand-reduction obligation. The draft law was tabled by the European Commission on 20 July 2022 as part of its Safe Gas for a Safe Winter package, which was given an overview by an accompanying Communication. Member States reached a political agreement on a compromise text for this file on 26 July. The Act was formally adopted by the Council on 5 August 2022 and published in the Official Journal on 8 August. |
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| Source Link | Link to Main Source http://data.europa.eu/eli/reg/2022/1369/oj |
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| Subject Categories | Energy |
| Subject Tags | Energy Markets, Energy Security |
| Keywords | Natural Gas, Security of Energy Supply |
| International Organisations | European Union [EU] |
