EU aims to double amount of gas in storage

The EU intends to more than double the amount of gas in storage, Report informs, citing the Financial Times.

A European Commission draft proposal, obtained by the Financial Times, will set a target for 80% of storage capacity to be filled by September 30, up from 29% now.

The paper suggests that countries impose windfall taxes on energy providers to compensate customers for high costs. But such measures could only last until June 30 and must not be retrospective.

“At high gas prices, co-ordinated action could further reduce EU dependency,” says the paper, which could change before adoption.

The document is expected to be adopted next Tuesday, March 8. But it is not ruled out that some changes may be made to it.