The new EU Energy Platform has been operational since April 25. It was set up as part of the REPowerEU project to improve the European negotiating position for natural gas on the world market.

The platform is expected to make natural gas more affordable for businesses and increase overall supply security (Image: Skyline Frankfurt / Pixabay)

Security of supply and price advantage

The idea behind the platform is to pool the demand for natural gas and liquefied natural gas (LNG) from many companies in the EU to obtain more favorable offers. Suppliers can also use the platform to submit their offers. The first round of bidding started on April 25 and will end after two months before the next round starts. Ultimately, the system is expected to improve the EU’s security of supply of natural gas and LNG.

The German Chamber of Industry and Commerce (DIHK) sees the Energy Platform as a great opportunity for small and medium-sized companies in particular to reach new suppliers and markets.

Further information about the functioning of the EU Energy Platform can be found on the website of the European Commission.

Source: DIHK (German language only)