Energy Minister Leonore Gewessler (Greens) spoke of “market failure in the sense of security of supply” on Monday morning at a short-term press conference. She particularly criticized the energy suppliers in Austria. There is enough non-Russian gas on the European market. In addition, OMV’s new long-term supply contract with Gazprom, which was drawn up in 2018, was a “politically supported” mistake.
TV analysis with OÖN business editor Alexander Zens:
While the share of Russian gas in Austria was 43 percent in August, it was 90 percent in October, as reported. And in December it was 98 percent – a record, as Gewessler explained. “It’s going in the wrong direction.”
Gewessler announces 3 measures
The politician announced three measures. Firstly, the Gas Industry Act should be changed so that energy suppliers are obliged to diversify. This requires a two-thirds majority in parliament. In the next few weeks, negotiations should take place with the coalition partner ÖVP and the other parties, said Gewessler. “If the gas suppliers do not act on their own initiative in the liberalized gas market, then legal obligations are required.”
Secondly, OMV’s exit from the supply contract with Gazprom should be prepared. The economic research institute Wifo is supposed to examine the economic effects of a contract termination by summer and analyze the dangers of prolonged dependency.
These delivery contracts provide for a fixed purchase obligation (take or pay). Because of this “gag agreement,” the Russian share is increasing (despite a decline in volume) while overall gas consumption is falling. Gas consumption in Austria has fallen by a quarter to 75.6 terawatt hours in the past two years.
Thirdly, Gewessler is planning a new security strategy. Because dependence on Russia in the energy sector is a “danger”.
ePaper
Author
Alexander Zens
Economics editor
Alexander Zens
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