(Finance) – Go ahead of the Regulatory Authority for Energy, Networks and the Environment (ARERA) to approve additional emergency measures to incentivize filling of gas storage, in view of next winter’s consumption. According to a statement, Arera has approved additional tools to promote the achievement of the filling target of at least 90% of national stocks.
Following the immediate consultation involving operators, which ended on 21 April, the Authority also approved the planned so-called “2-way contract”, reads, an instrument that will allow greater coverage for operators on the risk of sharp fluctuations in prices – linked to the Russian-Ukrainian crisis – between the current values and those of the winter consumption period, thus contributing to the objective of obtaining greater availability of gas in the coming winter.
The consultation, among those proposed, revealed the type of contract deemed most suitable for achieving the filling objectives, taking into consideration the possible significant costs that could arise for the system. A request has emerged to keep the so-called “stock premium” already approved by Arera as an alternative to the “2-way contract”, and to have the Italian Psv Day Ahead market as the main reference for calculating prices. The counterparty that will have to draw up the standard contract will be responsible for the balancing.
Finally, the Authority also approved further measures to encourage the use of regasification capacity available at national terminals, in light of the current one market context characterized by tensions and price volatility.