The endless run in the price of gas, a record 339 euros per megawatt hour
New record closure at the Ttf for gas at 339 euros / mwh. Futures are up 5.5%. Operators are looking with fear at the stop of Gazprom supplies from August 31 for three days of Nord Stream. Gas is increasingly an uncontrolled race that leaves even parties stunned, divided on the proposal to insert a European price cap or whether to act at a national level, with a decree that can curb the increases in the bill. For about a week, natural gas prices on the Ttf in Amsterdam, the European reference market, have been breaking record after record.
The latest in chronological order is that of yesterday with a closing at 321 euros per Mwh: 533.8% more in one year, 309.3% more since the beginning of June, 47.6% in a single week. And the situation does not go any better if we look at the contracts expiring in the medium term, all above 300 euros per Mwh until at least February 2023, an indication of the fact that investors expect sustained prices for several months.
The government prepares an 8 billion shield and turns on the radiators afterwards. Yes to the regasification plant in Piombino
As Repubblica explains, the government considers delaying the autumn start of heating by one week and always bringing the stop in spring forward by one week. Two weeks less radiators to save energy. But in the meantime, “Palazzo Chigi wants to avoid rationing companies, more than 10 billion are sought for aid”. According to La Stampa, the government prepares one 8 billion shieldie he goes “towards an amendment to extend the discounts against the cost-of-living. Most of the new supports to businesses, the funds from VAT revenues.”
Meanwhile, no? the president of the Tuscany Region Eugenio Giani opens the Piombino regasification plant. “I consider it an important work to overcome the supply of gas from Russia and an energy crisis that our country is experiencing dramatically every day. a sure work “, he tells the Corriere della Sera.
In Brussels, something is moving. Russia burns methane
The Czech presidency of the EU Council “will convene an urgent meeting of energy ministers to discuss specific emergency measures to address the energy situation”. This was announced by the Czech Prime Minister, Petr Fiala, in a tweet. The rotating president of the European Union announces that “the rotating presidency will convene an urgent meeting of energy ministers to discuss specific emergency measures to address the energy situation”. Good news for the dem secretary, a supporter of the gas price ceiling, as done in Great Britain.
A proposal that clashes with the skepticism of Carlo Calenda: “The ceiling on the price of gas cannot be done because otherwise the gas supplies go elsewhere. At the moment, Letta has not taken a position on the Piombino regasification plant “, adds Calenda.” I’m sorry for Calenda and his gang, but the regasification terminal has nothing to do with it “, is the reply from the leader of the Italian Left, Nicola Fratoianni : “It doesn’t solve the problem immediately. They know it and we know it, just waste time. At least 50 billion euros are needed right away. And there is a solution: tax the billions of excess profits of energy companies (which amount to over 50, in fact) at 100% and use them to help families and businesses. Everything else is chatter. ”
As the EU gathers ministers to untie gas and electricity prices, Russia is slapped in the face through satellite images showing methane fires. “Every day Moscow gets rid of over 4 million cubic meters dedicated to Europe”, writes La Stampa.
The proposals of the parties
Meanwhile, concern is growing among the social partners about the consequences that the increases are having on businesses and about the approaching autumn, when many companies – especially those operating in energy-intensive sectors – may not reopen or close. “I’ll be repeating. Businesses are not reopening”, says the Secretary of Action, Carlo Calenda, who relaunches the proposal to suspend the electoral campaign to convene a sort of ‘cabinet of war against price increases.
“The government is in charge for current affairs. Without the regasification plant in Piombino we risk rationing. Have you praised the republican spirit of Draghi’s speech but can’t stop one day to make a commitment together on energy?“A proposal that does not convince party leaders.
“I don’t think there is a need to suspend the electoral campaign to help the Draghi government in what needs to be done. It is enough that the parties in Parliament, for what a dissolved Parliament can still do, support government activity. “, says the president of the Liguria Region and of Italy in the center, Giovanni Toti.
Not so optimistic is the leader of the League who sees the specter of an energy rationing materialize. “There is a risk of rationing in the autumn. If the price does not drop, the next government will have to ration electricity and gas starting from businesses”, warns Matteo Salvini. A hypothesis that the Foreign Minister, Luigi Di Maio, stigmatizes as follows: “I would not take into consideration what Salvini says. Whoever caused the fall of the government should remain silent today”.
The minister assures that “the government is doing everything to avoid rationing “and” will take decisive measures“. Silvio Berlusconi also speaks of a government decree:” At current “gas prices” there is a risk of disaster for families, who will find themselves faced with the dilemma between shopping or paying bills, there is a risk of disaster for the companies, which will either have to reduce staff and increase the prices of their products or even close, and I was the first to ask the government to intervene and I have news that a decree is being prepared “.
Among the proposals in the field there is also that of closing schools on Saturdays to save on heating. A proposal that puts left and right in agreement for once. Clearly against. “School is the last of the realities to be reduced and cut from my point of view”, underlines Salvini. “The school, this time, must be put first and cannot be sacrificed on the altar of the umpteenth, albeit dramatic, emergency”, underlines the Democratic Party.
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