Cingolani assures that Italy is almost out of danger and we will have stocks for the winter

Cingolani assures that Italy is almost out of danger and we will have stocks for the winter
Cingolani assures that Italy is almost out of danger and we will have stocks for the winter

“We’re almost out of danger.” Ecological Transition Minister Roberto Cingolani is optimistic about the situation of gas supplies to Italy, despite the cuts by Russia.

Cingolani alla Stampa explains that “Italian stocks are at 55% and over the weekend we should receive another 100 million cubic meters of gas”. The road map prepared by the ministry on Wednesday, in the meeting with suppliers, foresees that stocks will reach 90% by the end of the year. And it is to achieve this goal that the government has decided to help the companies that buy gas: «We must consider that last year they bought at 20 cents per cubic meter, now at one euro. We have reached an agreement, but it is a system of loans and credits that will certainly be repaid because that gas will then be sold ». It is a question of supporting them now, to replenish the reserves. «From next year we will be able to take a breather because 18 billion cubic meters of new supplies will arrive, this year we already have 5-6. We are doing better than any other European country, but we must not be calm ahead of time. They can still hurt us if they suddenly close. “

However, we are not in the same conditions as Austria and Germany, which are much more dependent on the flow of Russian gas than we are. And on coal, “I made another choice,” says Cingolani. In other words, “to have the plants that were still active produce 100%, but not to reopen the others. This is a transitional regime that can last until the beginning of 2024, when we will be at 100% gas replaced. The ecological damage is small and will be offset by the growth of renewables, which will save us a couple of billion cubic meters of gas ».

But the fundamental problem is that «even if Russia also decreases the flow of gas to Europe, it continues to earn practically the same figures due to speculative markets that raise the price. And that same market that we follow for gas decides the price of electricity and renewables, a mechanism that must be broken otherwise it is clear that the ruble does not go down ». For the high bills, the government has already sterilized prices despite an increase in gas and electricity. But the only structural solution would be the price cap European Council that Draghi went to discuss at the Brussels European Council. Doing it nationally is useless and would only be counterproductive. At the EU level, however, it would be a completely different story. “They will have to get there in one way or another, I don’t think there is an alternative,” concludes the minister.

As for the drought, it is a rather worrying situation: «The rains are important in Piedmont, where the Po is born. Let’s see what happens in these days. There is a work table, there will probably be refreshments and localized rationing, but we must not exaggerate the alarm, we are not sure it will last two months ».

The article is in Italian

Italy

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