The Federal Cabinet today adopted by circular procedure the ordinance repealing the Gas Price Adjustment Ordinance.

The economic shield announced on 29 September 2022 effectively and comprehensively replaces the gas procurement levy (a "netted price adjustment mechanism" pursuant to Section 26 of the Energy Security of Supply Act).

The Gas Price Adjustment Ordinance is therefore repealed retroactively and in its entirety. Specifically, the Repeal Ordinance regulates the repeal of the Gas Price Adjustment Ordinance with effect of 9 August 2022. Claims for compensation for replacement procurement have therefore not arisen on the basis of the Gas Price Adjustment Ordinance.

The Repeal Ordinance is to be promulgated in the Federal Gazette on 3 October 2022 and will enter into force retroactively on 4 October 2022.

You can find the text of the Repeal Ordinance here.