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Russia – Ukraine, inflation. A sharp increase in energy prices – Jakub Wiech comments

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Energy prices remain at high levels. – This is a reflection of the overall situation on the market, which is most affected by the war waged by Russia – said Jakub Wiech, deputy editor-in-chief of Energetyka24.com on TVN24. As he added, the consequences of the COVID-19 pandemic also remain valid. – Two powerful factors overlap over a relatively short period – the pandemic and the war. This is a truly extraordinary situation, which is reflected in our wallets and will continue to be reflected in at least a dozen or so months – said Wiech.

The industry portal Wysokienapiecie.pl stated that electricity prices for households, the PGNiG offer will increase from PLN 0.42 / kWh at the beginning of last year to PLN 1.70 / kWh from autumn this year. According to the portal, similar increases are being introduced or planned by other energy companies.

– As pointed out by the President of the Energy Regulatory Office, this is a reflection of the overall situation on the market, which is most heavily burdened by the war waged by Russiaas well as the West’s response to this war and Russia’s response to sanctions, such as turning off the gas tap and suspending the transmission of blue fuel through two of the four main gas pipelines running from Russia to the West – commented Jakub Wiech, deputy editor-in-chief of Energetyka24.com on TVN24. .

However, he pointed out that this was only part of the picture of the whole situation. – We still have the current consequences of the pandemic and disturbances in the market, caused by the coronavirus, which can be seen, for example, in high freight prices, i.e. high prices of transport by sea, for example of oil or gas, as well as coal – explained Wiech.

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Energy prices up

As he stressed, “two powerful factors – the pandemic and the war – overlapped the relatively short period.” – This is a really extraordinary situation, which is reflected in our wallets and will continue to be reflected in at least a dozen or so months – said the TVN24 guest.

Wiech pointed out that a possible end to the effects of the pandemic would bring some relief, but – as he noted – “due to the fact that these two factors have different weights, it will not be a diametrical improvement”. – Unfortunately, we are most affected by what Russia is doing on the energy market and what we, the West, are doing in response to the Russian aggression on Ukraine – he said. In his opinion, “short-term, ad hoc possibilities of influencing the situation do not exist”. – Unfortunately, Europe is becoming dependent on this fuel station Vladimir Putin it has now condemned itself to the possibility and vulnerability of a certain energy blackmail that Russia likes to use – noted Jakub Wiech.

Jakub Wiech: Putin keeps Europe on an energetic leash

In his opinion, “it is now in the Kremlin’s interest to pressure Europeans over the coming winter to shock the European economy by pushing up energy prices and even causing potential supply cuts.” – Because such a risk, unfortunately, also exists to weaken the resistance of Europe, to weaken the response that came after February 24 and, for example, to persuade Europeans to re-bind Russia with energy contracts – said Wiech.

– This is a threat that is on the table and there is no such quick answer to that. That is, it is, we can limit the effects of this phenomenon, but not completely. In order to free ourselves from this energy leash on which Vladimir Putin keeps Europe, some time is needed for investments in, among others, infrastructure for the collection and transmission of non-Russian energy resources. We also need new, European production capacities, for example in the power industry, renewable energy and nuclear energy, as well as measures for energy efficiency – mentioned the TVN24 guest.

Main photo source: Shutterstock



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