During PGNiG’s press conference on the company’s 1H 2017 results, the management commented on the claim that the Act on fossil fuel reserves causes the difference in gas prices between Poland and Germany. The spread is not beneficial for our market.
„False information has cropped up and we need to correct it,” PGNiG’s CEO Piotr Woźniak said.
„The spread between the Polish market and Germany’s Gaspool has been here since forever. The Act does not impact this difference at all. Additionally, it is a natural situation on European markets. Even between two price areas in Germany,” Maciej Woźniak, PGNiG’s Vice-President of the Management Board responsible for Trade, said.
In his opinion the Act, which forces all entities to store gas or reserve capacities in case an emergency import of the blue fuel is necessary, „levels the playing field.”
„It is a matter of adaptation, not bringing charges about monopolizing the market,” Maciej Woźniak explained.
Act on reserves
The Act on reserves introduces solutions that adjust the actions of entities that have to maintain the required natural gas reserves. It also removes any interpretative uncertainties raised by participants of the gas market, to make sure that as of the new storage season, i.e. October 2017, it will be possible to maintain mandatory stocks on the basis of the new rules.
BiznesAlert