Kumer: prices of gas purchase contracts for at least one year ahead

Kumer: prices of gas purchase contracts for at least one year ahead
Kumer: prices of gas purchase contracts for at least one year ahead

According to the minister, the proposal of the commission will have to be “fixed in concrete terms” (Photo: STA)

According to the minister, Slovenia is in favor of dynamically limiting the price upwards, which is sufficiently low and at the same time sufficiently above the current market price that supply and demand can occur below this limitation.

“With this, we will continue to maintain the stability and reliability of operations, as well as the supply of natural gas, at the same level,” he said.

According to Kumr, the limitation can be dynamically linked to neighboring continents and, given the current market conditions, would amount to around 150 euros per megawatt hour. This price would be acceptable even for Slovenia, he emphasized.

This week, the European Commission proposed the establishment of a mechanism, according to which the upper limit of the price of forward contracts for natural gas for the next month on the Dutch trading hub TTF would be set at 275 euros per megawatt hour. The mechanism would be triggered automatically if the price exceeded this value for more than two weeks, but at the same time it would not reflect the conditions in global markets.

Kumer said that the prices of gas purchase contracts should also be limited for at least a year ahead, and not just for a month ahead, as the commission’s proposal envisages. “A solution that is limited to only one exchange and products for up to one month does not solve the problem,” he said. Slovenia will therefore require the inclusion of longer-term products and expansion to other exchanges.

According to the minister, the proposal of the commission will have to be “concretely corrected”. After the informal talks he had with other ministers today, he reckons that an agreement on the mechanism could be reached a day or so before the new extraordinary meeting of the energy ministers, which is scheduled for December 13. “We must reach an agreement on December 13 at the latest,” Kumer emphasized.


The article is in Slovenian

Tags: Kumer prices gas purchase contracts year ahead

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