European Papers (Apr 2024)
Changing the Flow: The European Response to the Russian Weaponization of Gas
Abstract
(Series Information) European Papers - A Journal on Law and Integration, 2024 9(1), 39-52 | European Forum Insight of 15 April 2024 | (Table of Contents) I. The complexity of the geopolitical matter. - i.1. EU gas policy before 2022. - i.2. The Russian retaliation after the invasion. - II. The measures adopted in response (and their opposers). - ii.1. The first steps: saving gas. - ii.2. Gently steering the market. - ii.3. Joint purchases of gas. - ii.4. Enforcing solidarity. - III. The most debated aspect: what limits to market intervention? - iii.1. Regulation 2022/2578: another round of the price cap debate. - iii.2. A balancing solution? - IV. The effectivity of the measures: the impact assessments and the comments. - iv.1. After the emergency: the situation after one year. - iv.2. The energy community (was) now: was the EU prepared? - iv.3. The legal issues. - iv.4. The return of geopolitics and the future of an open(?) strategic autonomy. | (Abstract) This Insight offers an overview of the EU's evolving energy policy in the face of the energy crisis which followed the Russian illegal invasion of Ukraine, highlighting the critical interplay between legal measures, market dynamics, and geopolitical strategy. In the first section, the Insight will examine the history of the EU policy on gas and its inherent risks, presenting the supply shock which occurred after the invasion February 2022. In the second section, the Insight details the legislative measures adopted under RepowerEU in the field of gas, describing the various approaches such as reducing consumption, ensuring storage, and fostering interstate solidarity, highlighting how the political debates between member states have contributed to shape the Regulations on the matter. In the third section, the Insight also explores the complex dynamics of market interventions, particularly the debated Market Correction Mechanism (MCM) and its implications for EU energy markets. In the final section, the Insight examines the impact of these measures, noting the mixed outcomes highlighted in the EU commissioned reports and presenting the criticism of other stakeholders, highlighting the legal challenges in implementing coordinated energy policies among Member States with diverse interests. Moreover, reflecting on the post-crisis landscape, the Insight advocates for a transition from emergency measures to strategic foresight in energy policy. It argues for the EU's need to balance national autonomy with collective energy security, suggesting a shift towards more integrated energy policies also in light of preserving the EU’s strategic autonomy in response to emerging geopolitical challenges.
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