Gas prices are rising. Will there be a government reaction?

Natural gas prices in Europe have risen again above 100 euros per megawatt hour amid fears that the US could resume military action against Iran, which could lead to extended supply disruptions from the Middle East.

The current gas tariff for households is valid until the end of the year, and price increases seem to be a foregone conclusion. According to unofficial information from "Rzeczpospolita", the decision on government intervention has already been made.

We will want to use known and proven mechanisms from 2022–2024. This is a proven instrument for freezing prices and compensating sellers for the difference between the statutory price and the ERO tariff. We are still considering the source of financing, says the daily's source.

We are talking about and working on gas, but yes, we have further solutions up our sleeve, said Energy Minister Miłosz Motyka to journalists when asked whether the government's planned protective measures would apply only to natural gas or also to electricity.

Finance Minister Andrzej Domański said on Thursday on Polsat News that the government is monitoring energy prices.

Work in progress. There are several solutions on the table and ministers will inform about them in the coming weeks, he said, referring to the rising wholesale prices of both natural gas and electricity. Of course, work is currently underway on solutions for households, explained the minister.

I think that solutions regarding the situation on the gas market will be known in November, Domański added.