What can the EU do to address the high natural gas prices?

Natural gas prices worldwide increased on the back of COVID economic recovery in 2021. European skyrocketed when dominant external supplier, Gazprom, started to withhold supplies Q4 This analysis uses market modelling assess and compare effectiveness various measures mitigate – by extension energy price crisis short longer term. First, realization 5th PCI package adopted Commission November 2021 would significantly reduce EU prices, especially Eastern Member States that tend be more dependent single supplier. At same time, billions euros poured risk becoming stranded assets long-term with tightening climate regulations. Secondly, uniform voluntary demand response has significant potential States. Thirdly, introduction strategic reserves can bring temporary relief but is not a cost-efficient solution. However, security supply considerations outweigh negative outcomes.