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Monday, October 18, 2021

Further increases in gas and electricity prices. It’s a global trend

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Gas price increases are expected to start in October 2021. This is an increase for individual recipients, because only this group of tariffs is still approved by the regulator – said Jakub Wiech on TVN24 from the Energetyka24.pl portal. He added that “this is related to the already growing gas prices, which remain on the Polish Power Exchange (TGE), where gas is obtained by PGNiG Obrót Detaliczny”.

On Thursday, the President of the Energy Regulatory Office approved changes to the tariff of PGNiG Obrót Detaliczny in the area of ​​gas fuel trading. The increase in the price of gas fuel in relation to the currently applicable tariff for all tariff groups is 7.4%.

The changed tariff will apply from October 1 to December 31, 2021.

Gas price increases. Why is the raw material so expensive?

– This is an increase for individual customers, because only this group of tariffs is still approved by the regulator – said the expert. – This is yet another increase this year, it is related to the already growing gas prices, which remain on the Polish Power Exchange (TGE), where gas is obtained by PGNiG Obrót Detaliczny – he explained.

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The analyst also mentioned other reasons for such high increases.

– This is the aftermath of what we have on the European and world markets when it comes to the supply of blue fuel. In fact, the entire world recovering from this economic slowdown during the lockdown, the pandemic began to rapidly increase its gas consumption, while the supply side, i.e. the companies producing this fuel, did not keep up with this jump. This was accompanied by Russia’s political actions, which limited the supply of gas to Europe, he said.

Among the reasons, the expert also mentioned “limited supply of energy from renewable sources”.

– In the North Sea, where there are very large capacities installed in wind farms, we have a complete fleet and there is no electricity produced from offshore windmills, which prompted countries with capacity in this technology to compensate for losses by gas power plants. All these factors have caused gas prices to rise to really record levels in Europe and it is felt by Polish consumers – he said.

Main photo source: Shutterstock



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