VIENNA: On a frosty morning in Slovakia’s capital Bratislava, cameraman Peter Lahky expressed his concerns over a looming energy crisis after Ukraine halted Russian gas transit to Europe, fearing that higher energy prices would further add to his financial burden.
Lahky told Xinhua that he has been worried about the recent forecasts by Slovakia’s Regulatory Authority for Network Industries, the country’s energy regulator, which projected household gas prices to increase by 15 to 34 per cent in 2025 without state energy assistance.
This means his family would have to pay some 300 euros (310 US dollars) more than in 2024 for gas this year, and it remains unclear whether the Slovak government will continue providing energy aid in 2025, he said.
“It’s not a small amount, so I’ll be more careful with my wallet,” he added.
Lahky’s concerns are shared by many in central and eastern Europe, a region which has long heavily relied on Russian gas supplies but now has to seek costlier alternatives after both Ukraine and Russia announced on Wednesday the stoppage of Russian gas transit via Ukraine.
The stoppage followed Ukraine’s decision not to renew a 2019 gas transit agreement between its state-run Naftogaz and Russia’s Gazprom, which expired on December 31, 2024.
Data showed that in 2023, roughly 15 billion cubic meters of Russian gas were transported via Ukraine to Europe, accounting for around 5 per cent of Europe’s needs. Following the halt of the Ukraine transit, the TurkStream pipeline under the Black Sea becomes the sole remaining route for transporting Russian gas to Europe.
The halt of the Ukraine transit is dealing a major blow to Moldova, which imported about 2 billion cubic meters of gas annually from Russia via Ukraine. Residents here worry not only about soaring gas prices, but also about possible energy shortage.
Tirasteploenergo, an energy company in Moldova’s Transnistria region, announced on Wednesday morning the suspension of heating and hot water services due to “temporary cessation of gas supplies” to the company’s heat-generating facilities, barring healthcare facilities and residential care institutions.
Noting that restoring the services could take up to two weeks, the company advised its customers to seal gaps around windows and balcony doors to retain heat and to gather all family members in a single room, Xinhua news agency reported.
In mid-December, the Moldovan government already decided to impose a 60-day national state of emergency to address risks arising from an expected cut-off of Russian gas supplies.
Starting Wednesday, the Moldovan government has also implemented measures to slash electricity consumption by at least 30 percent, including limiting street lighting, stopping the operation of escalators in some public and commercial buildings, and changing the working hours for high-energy-consuming areas.
The country has also planned to increase electricity imports from Romania and has signed a memorandum of understanding with Bulgaria for emergency gas assistance.
Tatiana Savva, a finance and public policy expert, said in an opinion piece on Moldova.org that high energy costs have long affected Moldovan households and companies and discouraged investments; in the absence of a quick solution to the current crisis, the economic consequences could include the stagnation of strategic investments, reduced economic activities and a decrease in the competitiveness of the local market.
In the more affluent Austria, public sentiments are more optimistic as the Austrian government has repeatedly assured its people that the country has built up adequate gas reserves and made thorough preparations for a switch to alternative suppliers.
Leo Lehr, Deputy Head of the economics department at Austria’s energy regulator E-Control, has told local media that he does not expect significant gas price increases like in 2022 as the halt of Russian gas supplies via Ukraine has been anticipated, but the gas prices could be more volatile at the beginning of this year.
Also Read: Russia-Ukraine conflict: With three years into war, end in sight?
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Publish date : 2025-01-02 04:21:00
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