Companies will need to buy gas at market prices.
The nationalization of Gazprom's subsidiary Gazprom Marketing & Trading Retail (known as Gazprom Energy) will cost Britain around £ 4 billion. This was reported by Bloomberg, citing sources.
“Britain's taxpayers could face billions of pounds if the government eventually nationalizes a division of PJSC Gazprom, which supplies about a fifth of commercial gas to the country,” the agency said.
According to sources, if the company is nationalized, the government may have to introduce a special management regime that will force customers to buy gas and electricity at current high prices, as the unit's hedge belongs to its parent company and will not be transferred.
The publication reminded that Gazprom's “daughter” supplies about a fifth of gas to the country's market, providing them with two-thirds of large consumers, including producers of paper, steel and fertilizers. Consumers have already responded and asked the administration of Prime Minister Boris Johnson to draw up contingency plans.
In Gazprom Energy itself, it said it was unaware of any decisions to transfer it to government control, and that through its parent company it could “provide all the gas and electricity needed for its customers on contractual terms.”
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Earlier, the publication reported that Britain is preparing to temporarily nationalize Gazprom's “daughter” due to a boycott of customers.
