Energy Minister Leonore Gewessler (Greens) is taking the exit from Putin’s gas too slowly. Given the continuing uncertainty in the markets, she calls for further efforts by the energy companies. There is great interest in a European solution.
With regard to the gas supply for the coming winter, Gewessler sees the republic prepared. The storage tanks are 80 percent full. According to Gewessler, Monday morning’s exchange was about further plans to diversify the gas supply. She indeed sees a fundamentally positive development in the energy companies. Still, the measures to get out “are not yet far enough and not fast enough”.
On the upside, Gewessler noted that some companies have shown strong interest in the European gas procurement platform. 13 terawatt hours of gas have already been registered for purchase via the platform. This corresponds to more than 10 percent of the annual supply.
Gas prices have fallen sharply
After the turbulence of the past year with sharp price increases, wholesale gas costs have recently recovered significantly. From the point of view of former E-Control boss Walter Boltz, Austria should not be lulled into a false sense of security, as a sudden halt in deliveries could quickly lead to shortages with price increases. “We shouldn’t be rocked.”
The energy expert sees that the power supply is secured. Further investments in the electricity grid are still necessary to prepare for a possible shortfall or failure of supplies from Germany – Austria gets large quantities from the neighboring country.
Gewessler highlighted initiatives such as the Network Infrastructure Plan in this regard. This includes the expansion of installations for sustainable electricity generation and for the storage of renewable electricity and gas.
Prior to the meeting, the Secretary General of the Chamber of Commerce, Karlheinz Kopf, had renewed the demands of the WKÖ for the expansion of the gas infrastructure. The main demands of the Chamber of Commerce include the implementation of concrete infrastructure measures for the use of gas from European countries, increasing the use of domestic gas potential and speeding up approval procedures, similar to the LNG Acceleration Act passed in Germany implemented.
Industrialists demand more safeguards
The Federation of Industrialists (IV) then appealed to the government to take further measures to secure supplies. This should prevent a shortage of gas due to the expiry of the gas transport contract between Ukraine and Russia at the end of 2024.
From the point of view of the Gas Heat Association (FGW), an expansion of the gas infrastructure is necessary, especially from Germany and Slovenia. Criticism of Gewessler came from the energy analyst Johannes Benigni: in the case of a Russian gas supply, there would be no concrete plans and financing.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
