Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Czech govt to give heating plants more emissions leeway to save gas

Published 31/08/2022, 14:04
Updated 31/08/2022, 14:37
© Reuters.

© Reuters.

PRAGUE (Reuters) -The Czech government will initiate measures that will allow heating plants to use different fuels other than gas, Prime Minister Petr Fiala said on Wednesday, as the country seeks way to deal with Europe's energy crisis.

The move will let heating plants use fuels like coal or light heating oils even as they exceed allowed emissions.

"The Industry ministry will declare a state of preventing a shortage in heating sector on Sept. 5, which will enable heating plants to use other fuels than gas without facing sanctions or some protracted approval process," Fiala said.

"This measure also has significant impact on our gas reserves."

The Czech Republic was nearly fully dependent on Russia for gas before Moscow's invasion of Ukraine in February pushed it to seek alternative supply sources, such as LNG.

It has also filled its gas storage tanks, which cover less than half the country's annual consumption, to more than 80% of capacity ahead of the coming heating season.

The Czech government like others around Europe has been trying to come up with initiatives to help households and firms hit by the energy crisis and soaring prices.

Industry Minister Jozef Sikela said on Wednesday he aimed for a programme to help energy-intensive firms that could cost 25 billion to 28 billion crowns. ($1.14 billion).

Fiala said last week the government had set aside 177 billion crowns, or nearly 3% of gross domestic product, in total to help households cope with soaring energy bills and inflation.

($1 = 24.4750 Czech crowns)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.