Senate approves amendment to Energy Act to increase energy security

The Senate agreed on Wednesday to tighten the conditions for maintaining capacity in gas storage facilities. The move is intended to ensure that storage facilities are kept at full capacity in order to increase the Czech Republic’s energy security. The amendment will enable part of the reserved storage capacity of gas traders who do not use it to its fullest extent to be taken away.

The amendment will also affect the governance of the Energy Regulatory Office, strengthening the position of the chairman of the body’s council and expanding its regulatory powers. The Minister of Industry and Trade Jozef Síkela told senators that the office will regulate energy prices to make sure that they are proportionate to the energy providers’ costs. The draft amendment now needs to be signed into law by the President.