May 9, 2025
EU Parliament supports easing regulations on gas storage.
The European Parliament voted on Thursday to relax the EU's gas storage rules, agreeing with member states' worries that the current targets could drive up energy prices.
These rules, established in 2022 to ensure fuel availability during winter after Russia reduced gas supplies, mandated filling storage to 90% capacity by November 1.
However, governments expressed concerns that this requirement forces European buyers to secure large quantities of gas, contributing to price inflation.
The Parliament proposed lowering the target to 83% and allowing countries to meet it between October 1 and December 1. Additionally, countries could deviate from the 83% goal by four percentage points if market conditions are unfavorable.
This vote increases the chances of relaxing EU targets before winter. The updates will apply to storage targets for 2026 and 2027, and if approved soon, will also impact this November's target.
The Parliament will negotiate final rules with EU countries, aiming for a deal around July. EU countries’ negotiating stance aligns with the changes supported by the Parliament, pushing for a 10 percentage point reduction under unfavorable market conditions.
Since February, benchmark EU gas prices have declined, reaching a near nine-month low last month due to concerns over economic effects from U.S. trade policies and the push to ease storage obligations.
These rules, established in 2022 to ensure fuel availability during winter after Russia reduced gas supplies, mandated filling storage to 90% capacity by November 1.
However, governments expressed concerns that this requirement forces European buyers to secure large quantities of gas, contributing to price inflation.
The Parliament proposed lowering the target to 83% and allowing countries to meet it between October 1 and December 1. Additionally, countries could deviate from the 83% goal by four percentage points if market conditions are unfavorable.
This vote increases the chances of relaxing EU targets before winter. The updates will apply to storage targets for 2026 and 2027, and if approved soon, will also impact this November's target.
The Parliament will negotiate final rules with EU countries, aiming for a deal around July. EU countries’ negotiating stance aligns with the changes supported by the Parliament, pushing for a 10 percentage point reduction under unfavorable market conditions.
Since February, benchmark EU gas prices have declined, reaching a near nine-month low last month due to concerns over economic effects from U.S. trade policies and the push to ease storage obligations.