MEPs want more flexibility in filling gas tanks: lower targets and looser deadlines to bring down prices

The European Parliament has supported a proposal to reduce the mandatory target for filling gas storage tanks from 90% to 83% of capacity. This target should be reached at any time between 1 October and 1 December, instead of the current fixed deadline of 1 November.

In the event of adverse market conditions, such as price fluctuations or supply problems, Member States could deviate from the target by up to 4 percentage points. The European Commission could increase this deviation by a further 4 percentage points if adverse conditions persist. Overall, however, storage capacity should not fall below 75% of capacity.

These measures respond to concerns that fixed targets for filling storage have led to higher gas prices by signalling to the market that Member States are obliged to buy large volumes of gas ahead of schedule.

The proposal also extends the validity of the current Gas Storage Regulation until the end of 2027. This Regulation was originally adopted in 2022 in response to the energy crisis caused by Russia's invasion of Ukraine and was intended to ensure sufficient gas supplies before the winter season.