The REN again proposed in its new investment plan the construction of a third pipeline between Portugal and Spain and heard the governor the same answer: they are not yet ripe for this project get off the paper, so that “it is prudent postpone “a final investment decision.
The construction of this interconnection of 162 km to Spain, which represent an investment of 137 million euros between 2016 and 2019, was one of three projects leaded by ERSE in plan development and investment within the national gas transport network (called PDIRGN) for the period 2016 to 2025, the REN presented last year.
According to the opinion released Monday, the regulator energy proposed the “postponement of its submission to final investment decision at least until the release of 2017′s PDIRGN proposal.” And the same happened with the construction of the loaded compression station, which would represent an investment 24 million for risk “operate few hours throughout the year” in a low gas consumption context.
ERSE also put brake on other investment of two million euros, for the natural gas terminal in Sines, considering that REN, led by Rodrigo Costa, did not provide enough information about it.
set the regulator chumbou investments of EUR 163 million which have been proposed by REN’s management team, but approved other three, approximately 33 million. Those who received positive opinion were enhanced extraction and injection capacity of underground storage Sedge (worth 7.8 million euros); the € 25 million investment related to the “safety and operational improvement, adequacy regulatory and refurbishment or replacement by the end of useful life” of various equipment companies REN group and the annual cost of 750,000 euros for bond projects new delivery points of the transmission network to the gas distribution network (which is mostly led by companies Galp universe).
Every two years REN has to submit to the governor their investment proposals for multi-year periods, which are analyzed by ERSE in the light of criteria such as security of supply, but also the impact it will have on the bills of consumers, domestic and industrial, that is who pays the cost of infrastructure.
in the case of the third interconnection Spain – which the previous government defended as essential to make Portugal and the Iberian Peninsula, a natural gas inlet port in Europe as an alternative to Russia – the view of ERSE is that it is unwise to decide on this project until there is certainty that Spain and France advance (despite having been signed to this effect).
in order to create a gas corridor from Portugal, Spain You will also have to build 85 km of pipeline and France will fulfill its part of the project concerning the Midcat agreement (the connection between Spain and France across the Pyrenees). “The persons consulted [REN's document was subject to public consultation] are of the opinion that this is a transnational project, which should be duly supported by governments and regulators to ensure the correct time of its implementation”, says ERSE.
the regulator also points out that it is necessary to clarify the aspects relating to European subsidies for investments that help mitigate its impact on the invoices of the Portuguese customers. While these aspects “crucial” are not clarified, send the “prudence” that the final investment decision for this project to be delayed until at least 2017, refers to ERSE.
According to the opinion of ERSE, construction of the third interconnection to Spain without EU subsidies would, on average, an impact of 1% on the final price; the subsidy scenario 50% of the project, the average impact on rates would be around 0.6%.
The REN would now send the PDIRGN the Directorate-General for Energy and Geology (DGEG), which will forward for the government, who has the final word on the investment plan.
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