MCM reference price

MCM reference price

Daily publication of the MCM reference price

Publication date 25 September 2023
MCM status Not active
Reference price 43.08 EUR/MWh
Date of MCM activation /
Number of working days since MCM activation /
Dynamic bidding limit* /

*Article 4.5 of the MCM Regulation states: “As from the day after the publication of a market correction notice, market operators shall not accept and TTF derivatives market participants shall not submit orders for TTF derivatives that are due to expire in the period from the expiry date of the front-month TTF derivative to the expiry date of the front-year TTF derivative with prices of EUR 35 above the reference price published by ACER on the previous day (‘dynamic bidding limit’). If the reference price is below EUR 145/MWh, the dynamic bidding limit shall remain at the sum of EUR 145 and EUR 35."

In line with Article 3 of the MCM Regulation to protect Union citizens and the economy against excessively high gas prices, ACER calculates the daily MCM reference price and publishes it on this webpage every weekday by 23:59 CET.

In case the website is not available, ACER will (exceptionally) publish the MCM reference price on the TERMINAL platform and communicate this via its social media channels (Twitter & LinkedIn).

MCM reference price

Market Correction Activation and Deactivation Notices

According to Article 4 of MCM Regulation, in the event ACER observes that a market correction event has occurred, it will publish a market correction notice on this webpage no later than 23:59 CET on the day of the event.

In line with Article 5 of the MCM Regulation, ACER will publish without delay a deactivation notice on this webpage following the occurrence of a deactivation event.