European Union member states agree to a
natural gas price cap in an attempt to limit economic damage from the
global energy crisis. The price cap can be triggered beginning on February 15, if for three days, prices on the
TTF, which is the European natural gas benchmark, exceed
€180 per
megawatt-hour (MWh) and are also more than €35/MWh higher than a reference price based on
liquefied natural gas price assessments.