Stats › Devises et matières premières › The gas price cap
The European gas price cap was never triggered and the supervisor found no measurable effect from it
| Element | Specification |
|---|---|
| Both conditions required | Price above EUR 180 and a spread above EUR 35 over the reference price, in the same three day window |
| What was capped | Order entry, as a dynamic bidding limit at the reference price plus EUR 35, with a floor of EUR 180 |
| What was not capped | Settlement prices, blocks, exchange for swaps and exchange for physical |
| Minimum duration once active | 20 working days |
| In force | From February 2023, extended to 31 January 2025 |
| Activated | Never |
The regulation states it applies from 1 February 2023 with the operative article from 15 February 2023, while the database entry for the same instrument gives 15 February 2023 as the first entry into force. Both are recorded. The energy agency states on the record that the mechanism was never activated because market conditions never met the thresholds.
The mechanism required the front month Dutch gas contract to settle above 180 euro for three days and to be 35 euro above a liquefied gas reference price at the same time. Market conditions never met both conditions in the two years it existed.
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