By Tasos Dasopoulos The economic staff is now focusing its attention on the price level and mainly on its effect on incomes, the real economy and the GDP, for the planning of the new package of business and household support measures which will be announced next month. The normalizing trend in the harmonized index of […]
Tag: energy crisis
Another jump in electricity prices in September – Up to 90% of the increase will be subsidized
Nominal electricity prices are expected to rise sharply in September, with the government seeking to absorb the bulk of the jump by keeping bills at August levels. In particular, information from the market estimates that the initial price of the kilowatt hour may escalate in September even up to 80 minutes, while in August it […]
Health experts warn that Britain is facing a ‘humanitarian crisis’ due to energy issues
Britain is facing a “humanitarian crisis” this winter when low-income households will have to make tough decisions due to sky-high energy prices, the NHS Confederation has warned, citing an “unprecedented” risk of dying from the cold at home . “The country is facing a humanitarian crisis,” said Matthew Taylor, head of Britain’s National Health Service […]
German regulator: Gas storage targets ambitious
Germany is likely to miss the government’s target for natural gas storage levels in November, the head of the country’s energy regulator, Bundesnetzagentur, Klaus Mueller, said on Thursday. Speaking to the German network t-online, Mueller warned that Europe’s largest economy has two difficult winters ahead of it, as reported by Reuters. It is noted that […]
Fleet of diesel ships set sail for Europe aiming for energy security
A fleet of ships carrying diesel, one of the world’s most important fuels, is heading to European markets facing threats to energy security from high temperatures, soaring gas prices and Russian gas supply disruptions, the Bloomberg agency. Five ships carrying nearly 3 million barrels are set to move from Asia to Europe so far in […]
Spain: Electricity consumption decreased by 3.7% after the implementation of emergency measures
In the week after the government approved emergency measures to save energy, Spain’s electricity consumption fell by 3.7%, despite high temperatures that usually force people to turn on the air conditioners, Energy and Environment Minister Teresa Ribera said today . More than half of the energy savings promised by Spain, as part of a Europe-wide […]
Von der Leyen: Lowering heating in homes by 1°C and we will save 7% energy
If citizens reduce the temperature in their homes by 1 degree, the European Union will save almost 7% of energy use for a year, says Ursula von der Leyen in her posts on Twitter, presenting part of the measures proposed by the Commission for the difficult upcoming winter. Across the EU smart ways to save […]
New c.c. OPEC: Inflation not our fault, but chronic underinvestment in oil and gas
New OPEC Secretary-General Haitham Al Ghais said on Wednesday that the highly influential oil cartel was not to blame for soaring inflation, blaming chronic underinvestment in the oil and gas industry. “OPEC is not behind this price increase,” stressed Al Gais, speaking to the US network CNBC. “There are other factors beyond OPEC that are […]
Net losses of more than 12 billion euros in the first half for the German Uniper
Uniper posted net losses of more than 12 billion euros in the first half of 2022, with the now German state-backed utility providing a prime example of the depth of Europe’s energy crisis. Russia has sharply cut gas flows to the European Union in response to Western sanctions following Moscow’s war of aggression against Ukraine, […]
If Russia cuts off natural gas, Germany will have less than 3 months supply
Germany’s natural gas reserves may be filling up faster than normal, but the country will continue to fight to have enough fuel to get through the coming winter, Bloomberg reports. Even if natural gas reserves can meet Germany’s target of 95% storage capacity by November, this would only cover about 2-1/2 months of heating, industrial […]
