The Putin’s war once morest Ukraine has sharpened the energy crisis what Europe is facing, which is registering once more record gas and electricity prices and unencouraging prospects rampant energy bills at least until 2023. A scenario that has forced the European Commission to rethink the list of measures to curb price escalation and reduce Russia’s high vulnerability and dependence, which sells 40% of its gas to the EU. . According to a draft to which EL PERIÓDICO has had access, the plan to be adopted this Tuesday by the EU Executive emphasizes diversifying the energy supply and accelerating the implementation of renewable energies and energy efficiency, although it is happening once more. of the main claim of the Spanish Government: disconnect the price of gas from that of electricity.
The only thing the European Commission is committed to at the moment is to organize one high-level expert event on the design of the electricity market in which to gather producers, operators, regulators and academics. A forum that will serve to provide “opinions and comments” to the final report that theEuropean Regulators Cooperation Agency (ACER) will present in April, in response to the toolbox raised by Brussels last October. Since then, and until 16 February according to the balance sheet, a total of 24 Member States have taken steps to reduce the electricity bill of 71 million European consumers and several million SMEs worth 23 billion. euros.
Despite the reform demanded by Spain or France and the “Deterioration” of the situation, Brussels insists in the document, which may still be subject to last minute changes, that the current legal framework of the electricity market already allows for “specific” and “calibrated” public intervention in pricing to curb the impact of rises on the most vulnerable households and even, in some circumstances, also for households in general and small businesses .
Benefits of electricity
In order to keep prices affordable, the Commission suggests that Member States introduce “exceptionally” fiscal measures with which to capture part of the profits obtained by the electric companies with the rise of the prices and redistribute them to lighten the bill of the consumers. “Revenue redistribution would in part prevent current high gas prices from increasing the costs to end customers,” says the draft, which states that such a measure should be designed “carefully” to avoid “unnecessary distortions.” of the market ”while encouraging the investments in renewable energy.
This means limiting the measure in time – until June 30, 2022 -, linking it to a specific crisis situation, not applying it retroactively, not affecting the long-term trend in the price of electricity or the structural part of a global rise in prices. The plan also points to the importance of achieving a well-connected and integrated electricity market as a shield in the face of supply disruptions and is committed to continuing to work to make the goal a reality. of electrical interconnection at least 15% by 2030.
Reduce Russian gas
The focus of the new communication, delayed a week by the war in Ukraine, is focused on Russia and how to reduce the huge European dependence on Russian gas. A goal that goes, first and foremost, through the diversification of supply sources increasing imports of liquefied natural gas (LNG), which have skyrocketed in these first months of the year. However, European gas reserves stood at 31% in mid-February, 9% lower than in previous years, and might fall to between 10% and 22% by mid-April. “These low levels increase price volatility and raise the possibility that prices will continue to be high during the summer, when gas stocks will need to be replenished,” the Commission said. to increase their gas reserves at least up to 80% by September 30th.
Possible measures might be taken by governments: the obligation to store a minimum volume of gas in underground warehouses, the obligation for warehouse owners to tender for capacities or the obligation for transmission system operators to buy and manage strategic gas reserves. To encourage increased bookings, the current legislative framework guarantees a reduction of at least 50% in transport fares for storage. The intention of Brussels, to confirm, is to raise it to 100%. The communication also confirms Brussels’ willingness to impose on Member States the legal obligation to guarantee “a minimum level of storage” before September 30 of each year and the creation of a pilot project for joint purchases of gas.
“The evolution of energy markets in recent months has highlighted the need to accelerate the transition to clean energy and reduce our dependence on natural gas imports once and for all,” said the Commission in its strategy. to drive renewable energy and energy efficiency. In this field, the new plan aims to reduce the obstacles for the investments in renewables, measures to boost solar energy, hydrogen or boost biogas production with the aim of producing 35 billion m3 by 2030.
