This was rumored so it doesn't come as a surprise. TTF prices are down 6.4% today on better weather forecasts for late December.
We'll wait on the details of the cap but I believe it's related to average prices over two weeks.
With China returning and Japan in need of gas for the spring, it will be an interesting market.
Update: The cap is 180 euros per MwH, up from 175 originally suggested. It can be triggered starting Feb 15.
