Gazprom has once again successfully startled Europe’s capitals. Since the recent announcement of alleged turbine maintenance, the price of gas for December has risen by more than 14 percent, and the price of electricity for the coming year by almost 19 percent. The Czech presidency is now considering calling an extraordinary energy council. This was […]
The electricity price made another substantial jump yesterday. The price for base contracts for the coming year closed yesterday at €637.75 per megawatt hour, up 14 percent on Friday. In the meantime, prices of up to €710 were recorded on the EEX – an increase of 27 percent.According to the Montel service, analysts blamed the […]
The gas crisis could threaten the security of electricity supply, according to EU energy regulator ACER. A large proportion of consumers in the EU could use electric heaters in winter, driving up electricity demand, the Ljubljana-based authority said on Friday.This could be prompted by gas rationing or government intervention in pricing, which could make heating […]
The auctions planned by the German government to save gas do not go far enough for the Federation of German Industries (BDI). In addition to a short-term auction model for companies to save gas, there also needs to be a second instrument for the medium-term release of gas quotas by companies. “Otherwise, the auction mechanism […]
In a letter to Minister Robert Habeck (Greens), the scientific advisory board of the German Ministry for Economic Affairs warns against national solo efforts in gas procurement. “If gas allocation is to be done on the basis of market prices, Germany will drive the price up and other countries may be tempted to cut off […]
This week the EU states agreed on a pact to save gas. How long will it last?It is a strong political signal that the EU has dared to put a set of rules on the table at all. The governments adopted the regulation within a week, and there was broad consensus; only Hungary dropped out. […]
In the end, the Czech Council Presidency actually succeeded. The EU member states want to cut gas consumption by at least 15 percent between August and March of next year – initially voluntarily, and later mandatory in the event of a Union-wide alert. “At the end, everybody understands that this sacrifice is necessary,” said Jozef […]
While transit through the Nord Stream 1 gas pipeline is disrupted, at least the strategic gamble between Moscow and Brussels worked on Monday. Russian media were closely monitoring the negotiations between the EU ambassadors and were trying hard to portray today’s meeting of energy ministers as a failure early, a high-ranking EU official said yesterday.For […]
The headwind was to be expected. Shortly after the EU Commission proposed a flat energy savings target of 15 percent in its winter plan on Wednesday, individual states also publicly voiced their rejection. The government of Portugal could not accept the proposal at all because it was unsustainable, according to João Galamba, the state secretary […]
Brussels would like to see as much unity as in the Commission among the EU members. Yesterday, no less than four members of the College presented the gas emergency plan for the winter – from President Ursula von der Leyen and her Vice President Frans Timmermans to the heads of energy and the internal market […]