European exchanges warn on ‘damaging’ TTF price cap

EEX and Ice warn of widespread distortion as ECB prepares to assess financial stability impact of proposed cap

Gas price

European exchange executives have slammed the European Commission’s proposed market correction mechanism, warning that a price cap on front-month TTF gas futures could trigger widespread market distortion and raise serious questions around default risk management.

“I think it is absolutely damaging,” said Anje Stiers, head of the EU representation office at the European Energy Exchange (EEX). “It will lead to massive distortions in the market because if you can’t trade TTF front-month, what

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