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: 26.07.2026 Expectation: 1600 pips
Buying AUDCAD from support level
26 June 2026 60
Period: 03.07.2026 Expectation: 1310 pips
GBPUSD is still poised for further downside
26 June 2026 35
Brent sell
Period: 03.07.2026 Expectation: 500 pips
Higher supply and weaker demand is likely to push Brent into red zone by weekend
26 June 2026 27
Period: 26.07.2026 Expectation: 3100 pips
Invest in USDCAD up to 1.45000
26 June 2026 35
Period: 02.07.2026 Expectation: 19500 pips
Selling ETHUSD with $1,585 in view following short-lived recovery
25 June 2026 48
Period: 31.07.2026 Expectation: 220 pips
Buying AUDCAD up to 0.9837
25 June 2026 30
Go to forecasts