European Union member countries are considering allowing deviations from gas storage targets in the next two years due to potential excessive costs for refilling reserves caused by high market prices. A proposal put forward by Poland, who currently holds the rotating presidency over member states' meetings, includes a provision permitting a deviation of up to 5 percentage points for each country in case of unfavorable market conditions. The European Commission is looking to extend the 90% gas storage target until 2026 and 2027. The amendments are intended to provide more flexibility for countries to meet the gas storage target amid changing market dynamics. Cold weather, low wind generation, and supply disruptions have led to a quicker depletion of gas inventories in the region, causing concerns about refilling and price increases. Poland is working on finalizing a revised text to address concerns regarding reaching filling targets, low calorific gas, and market conditions amid the ongoing energy crisis due to geopolitical events.
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