On Wednesday 18 October, the EU Agency for the Cooperation of Energy Regulators published a study examining the impact of European and national regulations on gas storage.
The purpose of the study, commissioned by ACER from VIS Economic & Energy Consultants, was to analyse the national measures taken by EU Member States with regard to gas storage and to assess their contribution to the objectives of filling storage facilities. It also sought to identify potential implementation difficulties.
As ACER explains, “gas storage plays an important role in the European gas system, supplying up to 25-30% of the total gas consumed in the EU during the winter”, and helps to ensure resilience in the event of disruption to gas supplies. The study therefore highlights the importance of maintaining sufficiently high gas stocks, particularly in the wake of the 2022 energy crisis.
The main conclusions relate to the measures that have made it possible to meet the filling targets, such as financial incentives, stockholding obligations, last-resort storage entities and use-it-or-lose-it mechanisms.
Member States without underground storage facilities have sought to store gas in neighbouring countries, but coordination and regional solidarity need to be improved.
All Member States with underground gas storage facilities have complied with their obligations in terms of filling targets.
“The measures implemented by the Member States have made it possible to overcome the negative market signals during the 2022 injection period and have contributed to achieving adequate levels of stored gas”, ACER states.
In 2022, the Member States met their storage obligations, collectively storing 630 terawatt hours (TWh) of gas, which represents around 53% of the European Union’s total aggregate storage capacity.
The report calls for greater transparency and verifiability of measurements and invites the Council of European Energy Regulators (CEER) to conduct further studies to improve the efficiency of filling storage facilities.
To see the study: https://aeur.eu/f/94u (Original version in French by Pauline Denys)