# Council agrees a market correction mechanism for gas prices

Date: 2022

On 19 December 2022 energy ministers agreed a market correction mechanism capping TTF front-month contracts above a high trigger. The Commission had proposed a cap after the energy-price spike. The instrument is temporary and designed not to cut physical supply.

## People

- Ursula von der Leyen: https://factrail.ai/people/ursula-von-der-leyen

## Drivers

- Cost-of-Living Pressure: https://factrail.ai/drivers/econ-cost-of-living-pressure

## Sources

- https://www.consilium.europa.eu/en/press/press-releases/2022/12/19/council-agrees-on-temporary-mechanism-to-limit-excessive-gas-prices/
- https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32022R2578

## Methodology

https://factrail.ai/methodology

Canonical: https://factrail.ai/facts/eu-ttf-gas-price-cap-2022