Europe’s crisis response to the rise in energy prices
A set of emergency measures to lower soaring gas and electricity prices that are fueling inflation, impeding industrial activity, and putting consumers on the hook for exorbitant bills ahead of winter was adopted by the European Union governments on Friday.…
European Union countries Squabble Over Price Caps for Gas
The European Union's member states disagreed on Friday in Brussels over whether and how to impose a price ceiling on soaring gas prices, with Germany among those opposed to the action that 15 other nations claimed was necessary to address…
EU countries fight to retain their own energy crisis policies in place
European Union countries are seeking for assurances that they would be able to maintain their own windfall profit levies on energy companies, as well as the flexibility to apply even harsher restrictions in addition to the bloc-wide measures proposed by…
Instead of fueling the fossil renaissance, Germany must accelerate energy transition
The "Zeitenwende" (turn of an age) that has been brought on by Russia's conflict with Ukraine necessitates that the German government rapidly scale up its efforts to transition away from fossil fuels and toward renewable energy. Despite the fact that…
Oil Stabilizes but Continues to Head Toward Weekly Decline
Oil prices remained relatively unchanged on Friday but are still on course for a weekly loss due to concerns on the possibility of significant increases in interest rates, which are anticipated to slow both global economic growth and fuel demand.…
As Europe debates a gas price cap, energy prices skyrocket
On Monday, Europe felt the chill of rising energy prices, with France admitting it could not cover all of the extra expenses for consumers, and Britain facing a rising risk of recession. The European Union and the United Kingdom are…
Germany to continue using coal and gas in power plants beyond 2030
The expansion of renewable power generation in Germany is a "herculean challenge" that will likely take longer than anticipated, making an early end to gas and coal-fired power production extremely challenging. Germany will continue to rely on natural gas, adding…
Russia cancels the reopening of the Nord Stream 1 gas pipeline, increasing European fuel concerns, as the G7 promises to curb oil prices
Russia has rescinded its Saturday timetable for resuming gas shipments along a crucial supply route to Germany, citing maintenance issues with the Nord Stream 1 pipeline. This circumstance exacerbates Europe's difficulty in securing winter fuel. The Nord Stream 1 pipeline,…
The loss of €12 billion by Uniper must serve as a wake-up call to change German energy policy
The “terrifying” 12-billion-euro loss that Germany’s largest gas importer, Uniper, posted in the first half of 2022 must serve as a wake-up call for German energy policy. Germany must never again be as dependent on a single energy supplier as…
Gas crisis causes European Energy Exchange power prices to surge further
Day-ahead auction prices for electricity on the European Energy Exchange (EEX), headquartered in the eastern German city of Leipzig, have hit a new record high of 553 euros per megawatt hour (MWh). When compared to the price of just 58…