Gas storage: Council greenlights 2-year extension of reserves filling rules to safeguard winter supply 09:50 Today, the Council adopted an amended regulation to extend the[...]

Today, the Council adopted proposed changes to the gas storage regulation, extending the current requirement for member states to maintain sufficient gas reserves before the winter season by an additional two years.

The objective of this measure is to mitigate the EU's vulnerability to price fluctuations owing to geopolitical tensions, particularly in the light of Russia's war of aggression against Ukraine, while at the same time striking a balance between energy security and the return to market-based principles.

Main elements of the legislation

The amendment to the regulation maintains the storage target of 90% and introduces additional flexibility for member states to adjust to ever-evolving market conditions and combat potential market manipulation.

It will enable member states to react faster to changing market conditions and get better deals when buying gas, while maintaining security of supply. Specifically:

• the existing binding target of 90% for gas storage is maintained, but with flexibility in meeting it anytime between 1 October and 1 December, replacing the current hard deadline of 1 November
• a 10% flexibility is introduced in case of difficult conditions in filling the storages. Additionally, through a delegated act, the European Commission may increase the flexibility towards the filling target by up to an additional 5% in case of persistent unfavourable market conditions
• intermediate storage targets will become indicative, offering predictability in storage levels while allowing market participants to purchase gas throughout the year when conditions are most advantageous

Next steps

Today's vote by the Council closes the adoption procedure. The regulation will enter into force the day after its publication in the EU's Official Journal.