Russia’s supply disruption to Poland causes gas prices to rise in Europe – Raw materials

News published by the Polish Onet portal about Russia’s interrupted gas supplies to Poland pushed gas prices to the skies in the Amsterdam market, which is the “benchmark” for this “commodity” in Europe. The increase was 17% and again exceeded the limit of 100 euros per megawatt hour (MWh).

However, after the initial jump, prices fell again from EUR 100 and are currently at EUR 99, an increase of 6.64% on the previous day.

At the same time, Poland has confirmed that supply will be cut from tomorrow, April 27th. Russia’s Gazprom provided information to the main Polish gas distributor, PGNiG.

The rise in gas prices will take place on the same day that Portugal and Spain got the “green light” from Brussels to set up a mechanism to limit the price of gas in electricity production, so that the electricity market is not affected by the instability caused by instability. in gas.

The European Commission accepted Iberia’s proposal, but set a limit of € 50 per megawatt hour for gas, although initially the maximum could be € 40. The intention of Madrid and Lisbon was that the maximum price could be € 30 / MWh.

This mechanism, which may come into force very soon, will be in place for about 12 months.

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