Finance

Quarrel about gas contract that can help aggrieved customers Welcome Energy

A spokesperson for the curator confirms this after reporting from the AD. “Gas was purchased at a certain price. It could now be sold at a much higher price. That difference would benefit the estate, and therefore the creditors,” the spokesman said.

Forward contract

GasTerra does not wish to comment because the contracts with customers are confidential. Half of the gas trader is owned by the government. Oil and gas companies ExxonMobil and Shell each own a quarter.

In concrete terms, the conflict is not about gas that is already physically present somewhere, but about contracts. In such contracts, it is agreed that an energy supplier or other customer will purchase gas at a specific price at a pre-agreed time. With the recently sharp rise in gas prices, such a forward contract can yield a lot of money on the market.

Duped customers

The proceeds may also benefit customers of the bankrupt Welkom Energie. They are still uncertain about the refund of possible overpaid advances or a welcome bonus.

Welcome Energy was declared bankrupt on Friday. It is still unclear how great the chance is that duped customers will see some of the money owed to them. They end up in the line of creditors.

First up are people who still perform work for the company, such as any remaining staff. In second place come the tax authorities and benefits agency UWV.

Now worth millions

The Tax and Customs Administration does not appear to be a major creditor in the case of Welkom Energie. This increases the chance that former customers of Welkom Energie will also receive money if the trustee can cash in on the purchased gas.

But a long tug-of-war about the rights to the gas can turn out negatively, according to the curator’s spokesperson. The amount of the profit on a possible resale depends entirely on the developments in the market. “If you were to sell it today, it would yield millions. But if the gas price has fallen sharply again, the difference with the purchase price will be less.”

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