BRUSSELS, 18 May. (EUROPE PRESS) –
The European Commission has recommended this Wednesday to the EU countries that they prepare for a complete cut off of gas supply from Russia, a scenario in which it has proposed limiting the price of gas in the wholesale electricity market, along with which has called for reducing electricity demand as part of its short-term recommendations.
“The Commission invites the Member States to accelerate the adoption of preparation measures in the face of a possible cut in the Russian gas supply,” said the Community Executive in the document of short and long-term measures for an intervention in the electricity market.
In addition, Brussels details in its study that a “reduction in the demand for electricity could have a clear effect in reducing prices”, for which it recommends that the Member States “incentivize a reduction in demand”.
A possible gas supply cut could require that the demand for this fuel be reduced, even in those Member States “less directly affected” in order to ensure the supply and operation of “essential sectors” in those EU countries most affected , has exposed the Community Executive.
In this scenario of gas supply disruption by Russia, Brussels has recommended that the Member States establish a maximum limit for the price of gas in the European markets for the electricity sector, a measure similar to the one that Spain has asked to apply and Portugal considering its status as an energy island.
However, he has urged that the measure be limited in time and that it prevent the EU from having more difficulties in accessing other gas suppliers, either through gas pipelines or liquefied natural gas, which would further deteriorate the situation.
Brussels has also advocated that EU countries introduce compensation measures for the most vulnerable consumers and has suggested that long-term power purchase contracts (or PPAs) can be an instrument that ensures price stability for certain categories of consumers.
The Community Executive has included among its recommendations to the Member States that a temporary extension of the regulated prices of electricity be applied for small and medium-sized companies, or establish subsidies for the costs of gas in the generation of electricity to lower the prices of this fossil fuel on the market.
In addition, given the possible increase in commercial flows between supply zones, it may lead to an increase in congestion revenue, which it recommends should be used to ensure network capacity and finance emergency measures for the most vulnerable consumers.
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