Natural gas use in the Netherlands fell by 25% in the first half of 2022, the country’s statistics office said, with the biggest cuts coming from heavy industry businesses due to high prices. In particular, Statistics Netherlands said natural gas use stood at around 17.6 billion cubic meters, up from 23.5 billion cubic meters in […]
Tag: energy crisis
Britain: Ministry of Finance visits the US to discuss issues related to energy security
British Finance Minister Nadeem Zahawi is visiting New York and Washington this week to discuss global economic challenges and cooperation in areas including energy security and financial services, his office announced yesterday. Britain and Europe are facing a sharp rise in energy bills due to soaring gas prices as the war in Ukraine and sanctions […]
Cuba wants to have solved the problem of power outages by the end of the year
Cuba’s government hopes to have ended or at least minimized “by the end of the year” the power outages that plague the island’s population daily, President Miguel Diaz-Canel said Sunday during a visit to a power plant in Santiago de Kumba (east). Since May, the country has been facing supply difficulties and power outages are […]
Europe is approaching its natural gas storage target early despite falling Russian supply
The European Union is set to meet its goal of filling natural gas reserves two months ahead of schedule, with the bloc bracing for a harsh winter as Russia cuts supplies and rising energy prices, the Bloomberg agency. Inventories in the EU were 79.4% full by August 27, compared with a target of 80% by […]
What will the EU emergency plan for the energy crisis provide for?
By Haris Fludopoulos For the first time, the European Commission is ready to propose even temporary solutions to deal with the energy crisis, which will change the current operating model of the electricity market. What does this mean practically? As Commission President Ursula von der Leyen said yesterday, “rising electricity prices are now exposing, for […]
Italy: Hoteliers’ federation sounds alarm over huge energy hikes
The Italian Federation of Hotels Federalberghi has sounded the alarm today regarding the cost of energy and its impact on businesses in the tourism sector. “After two years of terrible trials, while our companies were trying to get back on their feet, they are now again without oxygen,” emphasized the president of Federalberghi, Bernanbo Boca. […]
EIA: Russia to flare more gas as storage fills
Russia will likely be forced to increase natural gas burning in the coming months as its storage facilities fill up, International Energy Agency (IEA) Director Fatih Birol said today. He said confidence in Russia as an energy supplier has been lost around the globe since its invasion of Ukraine and cuts to natural gas exports, […]
EU: Emergency energy meeting on September 9 against the background of imposing a cap
The Czech Republic, which holds this semester’s presidency of the European Union, is calling an emergency meeting of energy ministers on September 9 in Brussels with the aim of reaching an agreement to deal with rising energy prices, Czech Industry Minister Jozef Sikela said on Monday. The emergency session will consider proposals such as imposing […]
Italy: Towards new household support measures
Italian parties are calling on Mario Draghi’s government to adopt new relief measures to deal with continued increases in the energy sector. With the pre-election period underway, the demand is being made by almost all political forces: from the League to the Five Stars and the centre-left Democratic Party. According to the press, the Italian […]
Germany: ‘Bell’ Lindner on electricity prices
German Finance Minister Christian Lindner said the government must tackle soaring electricity prices “with the utmost urgency”, as a leading German economist warned of a “gigantic shock” threatening Europe’s biggest economy. In an interview with newspaper Bild am Sonntag cited by Bloomberg, Lindner said swift action was needed, otherwise “inflation will be driven more and […]