20 December 2022 | Other

The gas price cap will be triggered from mid-February 2023

After lengthy negotiations, EU countries reached an agreement on a gas price cap on Monday. There was a big controversy over such measures as the bloc's efforts were focused on overcoming the energy crisis. 

EU countries decided to use extreme measures by imposing a cap on gas prices. The EU has strived to lower gas prices in recent months as they resulted in soaring energy bills and inflation after Europe was enduring a partial cutoff of natural gas exports from Russia. 

As reported by Reuters, energy ministers suggested that the cap should sit at 180 euros per megawatt hour. It would kick in if prices on the Dutch Title Transfer Facility’s (TTF) front-month contract exceed 180 euros per megawatt-hour for three consecutive working days. 

The price ceiling is planned to come into force as of February 15 of next year after it is formally approved in writing.

Company MarketCheese
Period: 31.05.2026 Expectation: 4500 pips
Selling EURUSD from resistance
20 March 2026 33
Period: 27.03.2026 Expectation: 900 pips
USDCAD resistance looms as overheating sets in
20 March 2026 34
Period: 27.03.2026 Expectation: 1050 pips
AUDCAD thrives on monetary divergence
20 March 2026 21
Period: 31.03.2026 Expectation: 800 pips
Buying Brent crude with $115 in view
20 March 2026 39
Gold sell
Period: 31.03.2026 Expectation: 600 pips
Selling gold upon breaking $4,560
20 March 2026 33
Period: 30.04.2026 Expectation: 2000 pips
SPX selloff to follow once it consolidates below $6,600
20 March 2026 18
Go to forecasts