ArcelorMittal’s Ribo: Buying from stock exchange will go the gas price up

37

The gas price will increase if the manufacturers and suppliers will have to sell at least 30 percent of the quantity on the stock exchange, Bruno Ribo, CEO of ArcelorMittal Galati said on Monday in a press conference, agerpres.ro informs. He gave Poland as example in this respect.

According to him, the obligation to trade gas on the stock exchange should be done gradually, not suddenly from 1 percent to 30 percent, as the government is considering.

“Perhaps this is the direction towards which we must go, but we can not have such a leap. Now, just 1 percent of gases is traded on the stock exchange and it can not switch from 1 percent to 30-40 percent. We recommend a gradual approach in this regard,” the ArcelorMittal Galati official said.

He explained that there are fixed contracts on the stock, which the parties can not negotiate them and that is detrimental to the large consumers.

“Romanian gas network is not well enough connected to the providers’ network, so you can choose,” Ribo also noted.

For a big energy and gas consumer as the steel mill in Galati, it’s better to have the possibility of concluding bilateral long-term contracts, for being predictability.

He pointed out that the emergency ordinance on the obligation to trading gases on the stock exchange is not based on serious feasibility studies on the impact on consumers.

Ribo has also shown that any extra energy cost is greatly affecting the plant’s activity.

At the end of last week, Emil Calota, Vice President of the National Energy Regulatory Authority (ANRE) said the contribution that the final consumers pay it in the next period for renewable energy through the green certificates system will increase after the 220/2008 law on supporting green energy will be amended.

- Advertisement -

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More