Polish President Signs Gas Security Bill

WARSAW (UrduPoint News / Sputnik - 17th August, 2022) Polish President Andrzej Duda signed a bill into law on Tuesday that seeks to shore up security of national gas supplies ahead of winter.

The legislation cited an "exceptional situation in the global energy markets" and an "unprecedented rise in natural gas prices" as the reason for having legal safeguards in place against the worsening economic and energy crisis.

The measures include extending caps on gas prices for local consumers until the end of 2027 and allowing for flexibility of gas supply by local suppliers to the national grid.

Russia cut off gas exports to Poland in April after it refused to pay for natural gas in rubles. Poland says its storage facilities are 100% full and has refused to rubber-stamp the European Union's emergency plan on limiting gas use ahead of winter.

Polish energy regulator expects consumers' gas bills to rise by $2 a month this year, while monthly electricity bills will soar by $5, or 24% of this year's monthly average, starting January 2023.