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Gas and electricity prices rose in Europe after Germany activated the emergency plan. What values ​​has it reached?

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According to the quoted source, for natural gas, the quotations of futures used as reference price increased even by 15%, after the German Minister of Economy, Robert Habeck, informed that a crisis cell has been set up within the Ministry of Economy which will monitor carefully gas supply situation.

At the same time, electricity prices in Germany, another benchmark for the European market, have also risen, informs Agerpres.

All these developments come in a context in which Russia intends to tell energy companies to pay in rubles for energy purchased from Russia, starting on Thursday, a request that the G7 states unanimously rejected.

“There have been several statements from Russia that if this does not happen, deliveries will be stopped,” Robert Habeck said on Wednesday.

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France is also preparing for a possible reduction in gas supplies.

The gas distribution company expects the Paris government to publish a decree in the coming days in which to present its plans for a possible gas rationalization, said the director of GRDF SA, Laurence Poirier-Dietz, in an interview for the daily finance Les Echos.

“Moscow is clearly trying to pressure Western governments dependent on Russian energy to pay in rubles and thus break the sanctions that have created a straitjacket around Russia,” said Timothy Ash, an analyst at BlueBay Asset Management LLP.

At the gas hub in Amsterdam, gas futures quoted for delivery in May rose to 125.34 euros for a Megawatt-hour. Also in Germany, electricity prices with delivery in May rose by 9.3% to 273 euros / MWh.

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Russian President Vladimir Putin has ordered the Moscow government, the Russian Central Bank and the Gazprom PJSC state group to prepare all necessary documents to make the payment in rubles on March 31.

“No one delivers natural gas for free. And they can only be paid in rubles, “Kremlin spokesman Dmitry Peskov said on Wednesday.

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