Portugal sees possible joint acquisition of gas between the EU as “positive”
“We see as positive the proposal to promote aggregate purchases of natural gas, which is a proposal that he believes deserves to be studied and positive”, characterized the deputy permanent representative of Portugal to the European Union, Pedro Lourtie.
Speaking on behalf of Portugal at the public session of the extraordinary Energy Council, held today in Luxembourg with the European ministers in charge, Pedro Lourtie pointed out that “the investment in energy storage solutions is essential to increase the security and flexibility of the energy system “of the EU in the medium and long term.
“We also consider positive, as requested by the European Council last week, to evaluate the functioning of the marginal market for the formation of electricity prices and, in this context, we look forward to the ACER study [Agência de Cooperação dos Reguladores de Energia]”, added the official, after it was agreed at the time that European regulators are going to assess the conception of the light and gas markets.
EU Energy Ministers met today, at an extraordinary meeting, to coordinate national mitigation and support measures at a time of rising electricity and gas prices, a situation caused by rises in the latter market, greater demand and declining temperatures, which threatens to exacerbate energy poverty and make it harder to pay heating bills this fall and winter.
For this reason, the European Commission presented, in the October scenario, a “toolbox” to guide EU countries in adopting measures at the national level, proposing to member states to proceed with ‘vouchers’, temporary reductions or moratoriums for lightening the electricity bills to the most fragile consumers and suggesting an investigation into “possible anti-competitive behavior”.
The community executive also recommended countries to evaluate “potential benefits” of a voluntary joint acquisition of gas reserves, similar to that carried out for the purchase of anti-covid-19 vaccines.
At the time, Brussels indicated that it will “explore the possible benefits of joint acquisition of gas reserves by regulated entities or national authorities to allow window grouping and the creation of strategic reserves”.
Next December, the executive will present a package of initiatives on the energy sector, admitting to intervene in relation to the acquisition and storage of gas, in order to reinforce the EU’s reserves.
Portugal is even the EU country, among the 18 that have gas storage, with lower reserves, which are about half, according to the European Network of Gas Transmission System Operators (ENTSOG).
In a document with supply perspectives for this winter, dated early October, an ENTSOG indicates that gas storage levels in Portugal are at 49.82%, the lowest percentage in the EU.
In his public speech today, Pedro Lourtie also said that “Portugal supports most of the measures taken by the Commission in the ‘toolbox’ and the considerations that these should be applied immediately to minimize the negative impact on consumers and on the economy”.
The official also pointed out that the country “already had many measures in its legal framework and others were adopted in response to the recorded price increase”, hoping in 2022 to be able to “mitigate the effects of rising electricity prices in the wholesale market”.
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