The objective is to prevent panic buying while guaranteeing the replenishment of EU countries’ gas storage ahead of next winter. The European Commission has also instructed member states to refill to below the 90% threshold set by law in 2022.
European Energy Commissioner Dan Jørgensen is pressing EU nations to start refilling gas reserves earlier than usual, aiming to avoid last-minute bottlenecks and surges in prices, according to a letter obtained by Euronews. This follows supply interruptions linked to delays in Qatari LNG shipments caused by military strikes from the United States and Israel on Iran.
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Jørgensen highlighted that the bloc’s supply security remains «relatively safeguarded» because it relies minimally on imports from Qatar and LNG shipments transiting the Strait of Hormuz—a crucial artery for global oil and gas trade which Iran subsequently closed—responsible for 20% of worldwide energy transport.
Belgium, Italy, and Poland are among the EU states vulnerable to supply interruptions from Qatar, said QatarEnergy’s CEO Saad Sherida al-Kaabi on March 19, noting the company’s inability to fully meet its contractual output commitments.
In Jørgensen’s letter, the EU’s dependence on international markets was emphasized amid rising prices and increased volatility, as tensions escalated following the ultimatum issued by US President Donald Trump on Saturday demanding Iran reopen the vital shipping route within 48 hours or face repercussions.
Iran replied with threats targeting additional energy infrastructure in Gulf countries and desalination plants, both critical assets for the region. On Monday, Trump stated he would withhold strikes on energy infrastructure «for five days».
«Although we are still early in the storage injection season, it is crucial to commence preparations timely and in a coordinated manner for the upcoming winter,» states the letter dated March 20, with the Danish Commissioner anticipating that global disruptions will impact EU gas storage efforts.
Commission revises storage targets
New regulations on gas storage now afford more flexibility. The Commission permits member states to distribute their refill targets over an extended time frame and modify them according to market situations.
«This adaptability can assist in reducing gas consumption when supply constraints arise and alleviate pressure on European gas prices. We have also recognized the downsides of disjointed measures,» reads Jørgensen’s letter.
Despite initiatives aimed at averting panic buying, the Commission asserts that «the EU is significantly better prepared than in 2022,» when Russia’s invasion of Ukraine triggered a sudden supply shock and sharply elevated prices.
By November 1, EU gas storage levels must reach 90%, a preventive requirement established following the Russian invasion. However, the European Commission advises capitals to maintain an 80% fill level «to account for potential difficulties» during underground gas storage replenishment. Some countries may refill up to 75%, with exceptions allowing levels as low as 70%.
«At this early stage, member states are encouraged to utilize these flexibilities and consider reducing their storage objectives to 80% promptly within the filling season to provide certainty and confidence to market participants,» the letter recommends.
Currently, EU gas storage stands at approximately 30%, lower than last year’s level. Germany’s reserves were near 21.6% in late February, while France also reported storage levels in the low twenties. This figure represents the lowest storage level for this period since 2022 and falls well short of the 10-year average of 58%.
‘Temporary, tailored, targeted’ responses
Commission President Ursula Von der Leyen unveiled «temporary, tailored and targeted» measures aimed at mitigating rising electricity bills following the EU leaders’ summit in Brussels on March 19.
Von der Leyen committed to addressing the four elements of energy bills: the energy source fueling electricity, national taxes, network charges, and carbon costs.
«We will collaborate closely with member states developing national schemes to further soften the impact of fuel expenses on electricity production,» stated the Commission President.
The Commission also revealed plans for legislation on grid charges designed to enhance operational efficiency of the electricity grid.
Regarding national taxes and fees, von der Leyen intends to propose tax rate reductions on electricity, ensuring these rates remain lower than those applied to fossil fuels—currently, electricity faces higher taxation than gas.
The EU’s carbon market, the Emissions Trading System (ETS), was praised by the Commission head as a key climate instrument that has «significantly decreased gas consumption,» fostering reduced dependency on fossil fuels and strengthening resilience.
Nonetheless, she indicated that the forthcoming ETS revision, anticipated by industry experts before summer, will consider extending free ETS allowances beyond 2034, factoring in rising electricity costs impacting heavy industry.
The Commission plans to activate the Market Stability Reserve—a financial mechanism operational since 2019 aimed at moderating excessive price volatility—within the coming days.
«It is essential to modernize and enhance its flexibility,» von der Leyen remarked.
EU member states act swiftly against price surges
Meanwhile, EU governments are deploying a mix of tax cuts, market interventions, and direct subsidies to shield households and businesses from price shocks.
Italy has chosen a dual approach—alleviating consumer burdens via tax reductions while imposing windfall taxes on energy firms to redistribute extraordinary profits earned during the crisis.
Austria has adopted similar consumer-focused measures by reducing fuel taxes, while further implementing caps on retailer profit margins to avoid excessive pump price hikes.
Meanwhile, price controls are re-emerging as a policy instrument.
Greece imposed strict restrictions on fuel margins and extended these controls to essential items such as groceries, alongside introducing subsidies to ease household expenses.
Portugal formalized its crisis response through legislation permitting the government to cap electricity prices when market volatility becomes excessive.
Spain stands out for the extent of its response. Confronted with persistent inflation, Madrid has launched a broad emergency package combining tax cuts, subsidies, and rent controls.
Significantly, Spain has pursued deeper structural reforms, including earlier initiatives to decouple gas prices from electricity prices—an effort to tackle volatility at its source rather than just its symptoms, effectively lowering energy bills in the Iberian Peninsula.
In Central Europe, Slovakia has taken a more interventionist approach to secure domestic supply. By limiting fuel sales and allowing higher prices for foreign buyers, Bratislava aims to prioritize national access to energy amid fears of shortages.