Flexibility without endangering energy safety – specified a fresh proposal for rules on replenishment of gas stocks before the winter period is defined by its initiators from the European Parliament. Euro MPs propose a slight simplification in the required level of stockfilling and extending within the time limit within which this work must be met. According to Boris Budka, this is intended to prevent speculation in the gas marketplace and thus aid reduce the price of natural material.
Last week, the European Parliament approved the EC proposal to extend the EU gas retention strategy until the end of 2027. According to the regulations adopted in 2022, this strategy would expire at the end of this year. Members have made respective amendments to alleviate tensions in the gas market, as speculations concerning the existing mandatory 90-percent. the filling rate by 1 November each year increased filling costs during the summer.
– We propose tiny but crucial changes in the functioning of the market. First of all, we propose a longer window, a time frame in which the warehouses are to be completed, precisely due to the fact that the marketplace does not know the exact date of acquisition of the gas and so that these prices are not overstated at the time of completion of the transaction – explained in an interview with Newseria Borys Budka, Euro MP from the Civic Platform and the European People's Party, rapporteur of the project. – Secondly, we are giving associate States the anticipation to fill these gas retention facilities and, which is very important, we are not giving strict guidance on which month, which quantity is to be purchased, precisely to guarantee that associate States decide for themselves.
MEPs propose that associate States should be able to scope the required level of filling of gas retention at any time between 1 October and 1 December each year. The mark level is to be reduced from 90% to 83%. Moreover, the rules besides supply for a margin (up to 4 percent points) from this level, in case of unfavourable marketplace conditions, specified as supply disruptions or advanced demand. The Commission may increase this deviation by an additional 4 pp. if specified marketplace conditions persist. However, associate States gotta guarantee that these deviations do not reduce their reserves to little than 75%.
"The European Commission will have all the tools to monitor the filling of gas retention facilities on an ongoing basis. These proposed provisions will guarantee the energy safety of the European Union. They are adequate in view of the level of filling of warehouses so far and at the same time make citizens and citizens of the European Union feel a crucial fall in gas prices He's judging Boris Budka.
Members will now start negotiating a proposal with the Polish Presidency of the Council. The first circular of talks is scheduled for 13 May.
Europarlamentarians besides called for a full embargo on Russian gas. As they indicated, "Member States should refrain from storing gas of Russian origin".
– I am pleased that the European Commission has clearly declared that the aim for all of us will be to be completely independent of gas from Russia, to completely destruct this fuel from Russia, precisely so that Putin can never blackmail Europe again. Europe is safe thanks to solutions that have previously been designed, specified as the Gas retention Regulation. European solidarity, the fact that countries aid each other, that countries which have large warehouses have taken on rather quite a few work – is besides 1 of the safety elements. We have shown as the European Union that this solidarity is even more crucial than money - emphasises the Euro MP from the Civic Platform.
Last week, the European Commission presented a roadmap to completely cut off Russian natural materials and complete EU energy independency from Russia. It sets out actions aimed at the gradual withdrawal of Russian oil, gas and atomic energy from EU markets. As the EC assures, these measures have been designed to preserve safety of energy supply while reducing any impact on prices and markets. The solutions introduced so far have already importantly reduced gas imports from Russia from 150 billion m3 in 2021 to 52 billion m3 in 2024, with its share falling from 45 percent to 19 percent. All Russian coal imports were banned by sanctions. Oil imports decreased from 27% in early 2022 to 3% today. In the atomic sector, associate States which proceed to usage Russian-designed WWER reactors have made advancement in replacing Russian atomic fuel with another manufacturers.
– We have built fresh ports in the countries of the European Union, we are building connections between countries, we are independent of Russian gas, so it will be with another fuels. It is crucial that associate States work together to guarantee synergies here, that the European Commission coordinates this, due to the fact that only then can these objectives be achieved – emphasizes Boris Budka.
