There is currently a rather unusual situation on the European gas market with currently relatively high prices: if you buy gas as a wholesaler for the coming summer, you have to “blech” “” “” “blech” for the next winter.
The gas price is actually cheaper in the hot months than in the cold season. With a loosening of the memory regulations, gas prices can be adjusted accordingly to the necessity, e-control Baas Wolfgang stated Urbantschitsch in the “Ö1-Centralive Journal”.
Finally, the price of natural gas has risen to the highest level in about two years. However, errors on the gas market can also be expected in the coming months. Although the need in the summer months is lower, higher prices are currently required on European gas markets for these months than before the next winter. The regulations for the gas stores are the culprit. The deeper temperatures currently cause higher gas consumption and gas reserves – in Austria to around 58 percent of the storage capacity. In the warmer months, however, the gas stores must be filled again, Urbantschitsch justified the current price development.
Release the requirements for gas stores
The e-control boss nevertheless spoke out against a European lid of the gas price. On the one hand, the caution must be delivered where gas can be saved. On the other hand, the EU countries must reconsider their specifications for the memory fill levels. “If you offer a little more generous deadlines here if you calculate again: how much gas should there be in the savings and these specifications are not too strict, there may be a certain relaxation,” Urbantschitsch said.
In any case, Urbantschitsch expects relaxation with the gas price for the following year. Because there should be more gas on the market. Thanks to fixed prices, most consumers do not get up the current price development. Only in the case of contracts based on wholesaler prices is noticeable immediately.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
