This year, PLN 10 billion is to be compensated for gas sellers at a regulated price, below the market price. The lion’s share will be won by PGNiG, which will additionally receive a credit line for PLN 20 billion and even 30 billion state guarantees for debt. There will also be changes in gas stocks.
As announced, the gas rescue act published on Tuesday covers a number of public utility institutions in gas tariffs. It is about health care facilities, schools, kindergartens, nurseries, universities, cultural institutions, archives, voluntary fire brigades and… churches and religious associations.
The act will additionally freeze tariff prices at the maximum level set by the tariff for the last resort seller – PGNiG Obrót Detaliczny, which corresponds to the price paid by households today.
Those customers who previously concluded contracts with the lower price will keep it. Gas sellers who fail to comply with the mandatory frozen prices and rates will be fined at least PLN 1 million. The rates for gas distribution are also frozen.
Compensation for everyone
The mechanism is simple – for a given volume, the difference between the purchase costs on the market and sales revenues at the tariff. If someone has a tariff lower than PGNiG OD, the difference is added to his tariff. The government estimates that compensation will amount to PLN 10bn this year. They will be paid by the Fund for Payment of Differences Prices, which will receive money from two sources: 40% of revenues from the sale of emission allowances in 2022, but not more than PLN 6.424 billion, and from the COVID-19 Counteracting Fund. The amount has not been specified here. Compensation will be paid by the company Zarządca Rozliczeń, which recently dealt with this after the electricity price freeze in 2019.
If the seller ceases the activities covered by the compensation within 12 months of the payment of the latter, he will have to reimburse the whole with interest.
Interestingly, the new system de facto abolishes the change passed only in December, which allows the excessive increase in tariffs from 2022 to be spread over the next three years. PGNiG OD has already used it, and according to this mechanism, the customers of the largest seller received “only” an 80% increase this year, but they were to return the rest in their bills for the next 3 years. However, what the state will compensate the company for this year will also include those increases planned for the past. From 2023, tariffs will not be increased by the effects of 2022, so this mechanism lasted less than a month.
Who will take the majority of the 10 billion dollar compensation pool? What is the revolution in compulsory gas reserves to look like? Who are loans and guarantees for? More about it later in the article on WysokieNapiecie.pl
Leszek Kadej, WysokieNapiecie.pl