We’re practically at war over natural gas prices

The world is in a state of “gas war”, sharp increases in industrial electricity prices are expected, and the situation will not improve anytime soon.

That’s what energy expert Vasko Nachev said in a TV interview on Bloomberg TV Bulgaria.

According to the expert, the increase in the price of gas, and therefore of electricity, is due to an increase in consumption, to which supply options currently cannot meet.

The reason is not in Gazprom’s reluctance to supply more natural gas, but in the technical impossibility to do so at the moment, as these processes are planned for at least a year in advance.

The Russian company plans to deliver an additional 1 billion cubic meters of gas from each of its two repositories to Europe from October 2022, for which preparations have been underway since August of this year, ”said Nachev.

Bulgaria supplies a quarter of the quantities of gas agreed with Azerbaijan and 50% more than foreseen in the agreement with Gazprom. “Why – this is a question for Bulgargaz,” said Vasko Nachev.

The price of carbon emissions plays a major role in shaping the price of electricity today.

In reality, the price of this issue is not determined according to the market, but by the European Commission.

“It is not a market, it is a kind of racketeering”, commented the expert. In a situation where prices are rising, Bulgargaz can demand anything from the regulator, ”he said of the 16% price increase requested earlier today.

Copyright (c) Novinite.com. Published with permission from the Big News Network News Agency

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