Apetro calls for ‘exceptional measures’

As oil prices skyrocketed to US$120 a barrel and gas shot up by 21% to €199/MWh this week, the general-secretary of the Portuguese Association of Oil Companies (Apetro) says that “exceptional situations require exceptional measures”.

António Comprido says that these measures need to be provided by the State to counter energy price rises for companies and consumers.
“The best would be a peace agreement which would have an immediate psychological effect on the markets”, he said.
According to ECO and following the recent increases in fuel prices, António Comprido stated “any support through government measures” – without specifying which – “to lower the price of fuel would be positive”.
However, Comprido said that at present there had been no contract from the government or even talk of any measures that it might suggest.
On Friday, the Minister of the Environment, João Pedro Matos Fernandes told RTP television that the government would use €150 million (the equivalent of additional revenues from carbon credits) from the Environmental Fund to reduce the costs of accessing the power grid which are reflected on electricity bills, giving a guarantee that no company will close because of increased energy costs.
In relation to industries that are dependent on natural gas, the government is also considering direct support (which will have to be approved by the European Commission) and tax benefits.
“Within 15 days this will be resolved” he assured, announcing that measures that are in force but end in March will be extended.
Meanwhile, the wholesale price of electricity will reach €340.7/MWh, 0.1% down on Thursday (yesterday) and the price of gas hit a new record. (€1999.99 per MWh)