Raw material prices are rising across the Middle East. There is a reaction from the President of the Energy Regulatory Office
As she emphasized, the current situation does not provide grounds to assume that Europe and Poland will face an energy crisis similar to the one that followed Russia's aggression against Ukraine.
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— We observe the behavior of markets and talk to enterprises. For now, there is no reason to think about a repeat of the events from the beginning of the war in Ukraine, she said.
Diversification of supplies and gas stocks
According to the President of the Energy Regulatory Office, Poland has drawn conclusions from the previous energy crisis and is currently in a much better situation. One of the key elements is diversification of raw material supply sources.
Mroczek also noted that the current period of the year works to the advantage of the energy market. The winter season, in which the demand for gas is the highest due to heating, is practically over.
– We have gas reserves, and the period of greatest demand is already behind us, so I would calm down emotions – she emphasized.
How do gas tariffs work?
The President of the Energy Regulatory Office pointed out that prices for end users are largely influenced by the tariff mechanism, which stabilizes costs.
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Gas prices are in the approved tariffs the resultant of costs resulting from previously concluded contracts and planned fuel purchases. As tariffs typically cover a period of approximately 12 months, prices are averaged and do not directly reflect short-term market fluctuations.
Energy companies build their contract portfolio well in advance – often for several or a dozen or so months. This ensures that approved tariffs remain relatively stable.
Markets react nervously to news from the Middle East
Mroczek also admitted that fluctuations in commodity prices on global stock exchanges are a natural reaction to the uncertainty related to the geopolitical situation.
— After such information, oil and gas prices are highly volatile. Even temporary limitations in the supply of energy carriers to global markets always translate into their prices, she noted.
