“The Council regulation also foresees the possibility to trigger a ‘Union alert’ on the security of supply, in which case the gas demand reduction would become mandatory. The purpose of the gas demand reduction is to make savings ahead of winter in order to prepare for possible disruptions of gas supplies from Russia that is continuously using energy supplies as a weapon,” the council said.

“Whereas all EU countries will use their best efforts to meet the reductions, the Council specified some exemptions and possibilities to request a derogation from the mandatory reduction target, in order to reflect the particular situations of member states and ensure that the gas reductions are effective in increasing security of supply in the EU,” the statement continued.

“Member states agreed to increase the role of the Council in triggering a ‘Union alert’. The alert would be activated by a Council implementing the decision, acting on a proposal from the Commission. The Commission shall present a proposal to trigger a ‘Union alert’ in case of a substantial risk of a severe gas shortage or an exceptionally high gas demand, or if five or more member states that have declared an alert at the national level request the Commission to do so.”

“The regulation is an exceptional and extraordinary measure, foreseen for a limited time. It will therefore apply for one year and the Commission will carry out a review to consider its extension in light of the general EU gas supply situation, by May 2023,” it added.

The EU is facing potential security of supply crisis with significantly reduced of gas deliveries from Russia and a serious risk of a complete halt, for which member states need to prepare immediately in a coordinated fashion and a spirit of solidarity. Although all member states are not currently facing a significant risk of security of supply, severe disruptions in certain member states are bound to affect the EU’s economy as a whole. (ILKHA)