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LEAGLEONE: Energy is experiencing turbulent development | Business

The entire energy sector in the European Union was shaky before the war in Ukraine. If the countries of the European Union decide to cut off supplies from Russia, or if Russia itself suspends supplies, how can we compensate for this shortfall? We will discuss these topics with lawyer Jiří Prouza.

“Further developments will depend mainly on how long the conflict in Ukraine lasts and whether Putin stops the gas taps. In any case, this means that the European Union will have to rethink its energy policy, which is already happening. The states of the European Union are dependent on Russian supplies, especially natural gas. Gas consumption in European countries, in the states of the European Union, is covered by Russian supplies from 40 percent and oil by about 25 percent, “says Prouza.

He adds: “Thanks to the liberal electricity and gas market, we have had low energy prices here for a decade. However, electricity and gas prices have risen sharply since last year. In the Czech Republic, measures have so far been taken in the form of housing allowances for households, which may be threatened by rising energy prices. And for energy-intensive companies there is a form of compensation for increased costs, especially from emission allowances, which is up to 1.4 billion crowns for the period 2021 to 2030. This support plan has already been approved by the European Commission to avoid relocating energy-intensive production to countries neighboring the European Union, which would lead to no reduction in emissions. “

You can find the whole interview here.

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