The energy war has begun and all states are trying to shield themselves against the Russian threat.
By Antonis Anzoletou
What will he do? Putin in relation to natural gas is the big question. And then what will the Old Continent do if it does not receive the “kiss of life” from Moscow. In any case, delignitization is a thing of the past. For now at least. The energy war has begun and all states are trying to shield themselves against the Russian threat. Doubling electricity generation for a year with the polluting mineral is a one-way street, as is the opening of closed mines. The brand new Ptolemaida unit (in addition to the other seven) will be put into trial operation and the goal is to increase the overall participation in the country’s energy mix to 20%.
At the same time, LNG cargoes will be maximized in Revythoussa, while control over energy consumption is considered necessary. The signing of an agreement for the storage of natural gas in Italy from our country is one of the solutions that have been qualified. Of course, Rome has entered into political adventures, but everything will be examined in time. The first bells rang when, according to Reuters, the Russian energy giant Gazprom informed that it cannot fulfill its obligations regarding the supply of natural gas in Europe with respect to at least one large customer, citing reasons of “force majeure”.
There are assurances from the government camp that in the event of an interruption of natural gas from Russia, Greece will face the least possible risk. The pressure, of course, on the country’s energy system will depend on the situation in which countries like Bulgaria will find themselves. In this climate, the E.E. proposed a voluntary target for member states. To reduce the use of natural gas by 15% by March. The Commission warns that if big cuts are not made now, things could get worse with fuel in the winter if Russia turns off the tap.
In this climate, market prices are causing multiple headaches for the government. Further rise in the price of natural gas more than 30% it also implies a launch of the fiscal measures that must be taken to support the citizens. Only the European Union could provide a solution to control energy costs. Decoupling the price of electricity from the price of natural gas would be the solution, but there are objections.
According to competent sources, a decisive role will be played by how quickly the power generation mix will change. Greece’s move to boost electricity production through increasing the use of lignite, oil and Renewable Energy Sources helps limit the use of natural gas. Still, the picture that will take shape in the coming months is not clear.
Exceeding tax revenues in June is also good news, as fiscal space is created to support households due to the energy crisis. There are €799m of over-receipts in June compared to the target set by the government.
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