Connect with us

Entertainment

gas europe winter price price cap

Published

on

With winter on the horizon, the gas crisis, which exploded due to the war in Ukraine, is worsening across Europe. And now the EU is desperately trying to hide. The time is over for divisions, so the President of the Commission, Ursula von der Leyen, announces: “We are ready to discuss a cap on the price of gas to produce electricity.”

Von der Leyen addressed the European Parliament in plenary on October 5 to discuss the latest developments in the war in Ukraine. “Putin used energy as a weapon, causing economic and social hardship. The measures we have put in place provide us with a first buffer of protection. We will now take a step forward to deal with rising energy costs,” Von der Leyen said.

Ursula von der Leyen. Photo Ansa / Epa Julien Warnand

The Ttf – Title Transfer Facility, the virtual natural gas exchange point based in the Netherlands – “our main price reference, is no longer representative of our market. Which today includes more LNG (liquefied natural gas, editor’s note). Capping gas prices for electricity generation is “a temporary solution until a new EU price index is developed”.

Consumption in Europe reduced by 10%

The Commission has started to work on this subject. “The President of the Commission then took stock of the issue of consumption. “We have reduced our gas consumption by around 10%,” he said. “Gas supply from the Russian pipeline fell 40% to 7.5% today. We compensated for this reduction with an increase in imports of LNG (liquefied natural gas) and pipelines, mainly from our reliable suppliers such as the United States and Norway. Gas storage in the EU is now at 90%. This is 15% more than on the same day last year, ”he said.

Gazprom has taken over Italy’s supplies blocked in Austria. Photo Ansa / Epa Anatoly Maltsev

Italy, Russian gas is back

Meanwhile, today October 5, the gas flows that the Russian Gazprom sends to Italy and which had stopped in Austria have resumed. The resumption of supplies took place because Eni resolved an issue regarding the constraints “of new legislation introduced by the Austrian regulatory authorities”. Eni announces it. Supplies were interrupted on October 1 due to “Gazprom’s declared impossibility of transporting gas through Austria”.

Photo Ansa / Epa Hannibal Hanschke

After four days, Gazprom and Italian buyers of Russian gas reached an agreement on supplies and the transport of Russian gas through Austrian territory resumed. “Gazprom and Italian buyers succeeded in reaching an agreement on the format of cooperation between the regulatory changes in Austria at the end of September. The Austrian operator has communicated its willingness to confirm the transport appointments of Gazprom Export, which allows the resumption of deliveries of Russian gas through Austrian territory,” reads a note from Gazprom quoted by Tass.

Continue Reading

Recent News

Crypto Staking Crypto Staking
Crypto18 hours ago

Is it Possible To Make Money On Crypto Staking in 2024?

In the modern world, cryptocurrencies and blockchain technologies are becoming increasingly popular, attracting the attention of investors and users from...

Lake Como Lake Como
Wedding18 hours ago

How to Choose the Right Location for a Marriage Proposal in Italy and Lake Como

Proposing marriage is a unique and memorable moment in a couple’s life. Choosing the right location is crucial to creating...

Personal Injury Lawyer Personal Injury Lawyer
Law4 days ago

Finding the Best Personal Injury Lawyer in Lumberton, NC

Personal injury law is designed to protect individuals who have been harmed due to the negligence or wrongful actions of...

WhatsApp Business WhatsApp Business
Business5 days ago

Running WhatsApp Business with Pro+VPS for Android Emulator

WhatsApp Business is one of the most powerful tool for Business to manage customers communication. Running it can enhance the...

Civil Partnership Visa Civil Partnership Visa
Finance6 days ago

Civil Partnership Visa vs Spouse Visa: Which One is Right for You

Choosing the right visa to join your partner in the UK can be confusing. Two common options are the Civil...

Crypto Crypto
Crypto7 days ago

Staked Crypto – A Step-by-Step Guide for Beginners

Ethereum staking has become an increasingly popular way for cryptocurrency holders to earn passive income through staking rewards. In this...

Ethereum Staking Ethereum Staking
Crypto1 week ago

Maximizing Ethereum Staking Rewards: Tips and Tricks

Are you looking to maximize the potential of your Ethereum holdings? Stake Ethereum using OkayCoin and take advantage of the...

Wedding Wedding
Wedding1 week ago

4 Wedding Services You Can Quickly Check Off Your To-Do List

Organizing a wedding might like arranging a large-scale symphony, in which each element must work together to produce a beautiful...

Luxury Shopping Luxury Shopping
Lifestyle1 week ago

Luxury Shopping in Ibiza: A Guide to the Finest Boutiques

Ibiza is synonymous with lavish lifestyles, sun-soaked beaches, and electrifying nightlife. But beyond the party scene and stunning seascapes, the...

Indian Brides Indian Brides
Fashion2 weeks ago

Top Trends in Diamond Necklaces for Indian Brides

As Indian brides gear up for their big day, the selection of the perfect diamond necklace is crucial. Diamond necklaces...