With the war in Ukraine and the sanctions against Russia, there is a possibility that Putin will turn off the gas and create shortages. In the event of a crisis, energy management measures could then be taken: the state could force companies to release stored gas. A legislative amendment by the turquoise-green federal government should ensure that companies can dispose of their own gas supplies in the event of a crisis – at least for the time being.
Large industrial companies that independently purchase and store natural gas can also keep their energy consumption under control as a result of the proposed amendment to the law initially not required to limit consumption. They can continue to produce with their reserves. The Federal Chancellery explained in a broadcast that the state can only access these reserves when “system stability” requires it to maintain the supply of protected customers and the country’s system-critical infrastructure.
Access only in “absolute crisis”
This only happens in an “absolute crisis”, emphasizes Chancellor Karl Nehammer (ÖVP): “As a federal government, we will continue to do everything we can to ensure that such an event does not occur and that gas supplies to households and businesses are assured without government controls.” If there is access, the companies are entitled to compensation and the gas used is financially compensated by the state. According to Nehammer, the statutory compensation guarantees security.
Energy Minister Leonore Gewessler (Greens) pointed out that for the first time, the state is storing gas itself as an “emergency iron reserve”. Companies could also contribute by storing gas. “With this amendment to the law, we are giving the large industrial companies in Austria the security they need to store natural gas.”
Measures planned for three years
The two measures are initially limited to three years. They apply to a stored amount of up to half of your own annual consumption. This is to ensure that huge amounts of gas are not stocked up and that too little storage capacity is available for other customers, according to the Federal Chancellery. Comparable Rules already exist for coal and oil. Now they would also be expanded to natural gas.
Change must be decided on Thursday
The amendment to the Energy Control Act has already been approved by the finance committee in the National Council with the votes of the ruling parties ÖVP and Greens, as well as the SPÖ and NEOS. The amendment will be discussed in the National Council plenary on Thursday. A two-thirds majority is needed for the final decision, so the government needs at least the votes of the SPÖ.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
