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(Bloomberg) – Germany the fuel garage objectives legally to part because it seeks to mitigate the garage tension before the next heating season.
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Cavern storage facilities — which are faster and more responsive to supply shortages — will have to be 80% full by Nov. 1, down from a previous target of 90%, according to an economy ministry press release.
Porous reservoirs — including the country’s largest in Rehden — will have a lower aim of 45%, except for four sites near the Swiss and Austrian borders, which are subject to the higher rate as they’re important to supply in those countries. The new targets would effectively mean Germany’s overall storage capacity would be around 70% full by Nov. 1.
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The move is meant to ease speculation in the gas market and comes after Europe’s gas market saw significant price distortions earlier in the year, which made it uneconomical for traders to stockpile fuel in preparation for the next heating season. While prices have eased since then amid worries about the economic repercussions from the unfolding US-led trade war, the region remains vulnerable to tight supplies.
“The proposed relief of the objectives of the garage is a step in the right direction and a vital sign for the market,” said Kerstin Andreae, president of the BDEW Energy Association of the country, in custom reaction. “This will cause the winter of winter of 2025/26 to be more oriented towards the market and profitable. “
An organization of European Union legislators voted recently in favor of reducing the fuel garage of the region to 83%, with more flexibility in safe cases, and the Parliament of the block will vote the factor next week, before discussions with the Member States on the final form of the regulation.
The last German measure “aims to significantly reduce the hypothesis in the fuel market that has been observed in recent months,” said the Ministry of Economy. The ministerial order does not require parliamentary approval.
He also stated that the landfill sponsored through the state of the garage sites, the fuel market manager in German, the Hub Europe GmbH, “is not appropriate” and “unnecessarily unnecessary prices for fuel consumers. ” Earlier this year, a proposal on subsidized injections through volatile markets.
The objectives of the fuel garage were brought the energy crisis to respond to the considerations that Europe does not have enough fuel to spend the winter after Russia has reduced its fuel supplies. However, there have been criticism that building artificially costs summer, sometimes an era of requested decrease and less expensive power.
(Updates with more main points in the third paragraph).
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