- Sputnik International, 1920
Energy Crisis in Europe
Europe is bracing for tough winter as US-led push to “punish” Moscow for its military operation in Ukraine backfired on the EU, which has faced months of skyrocketing energy prices and rising inflation after Brussels joined Washington in attempting to “phase out” Russian oil, coal and gas.

European Council President Advocates for ‘Genuine’ Energy Union in Face of Surging Prices

© AP Photo / Daniel ColeJacques Petite fills his motorcycle with petrol at a gas station in Marseille, southern France, Thursday, Oct. 21, 2021
Jacques Petite fills his motorcycle with petrol at a gas station in Marseille, southern France, Thursday, Oct. 21, 2021 - Sputnik International, 1920, 10.10.2022
Subscribe
MOSCOW (Sputnik) - European Council President Charles Michel proposed on Monday smoothing out differences between the 27 "preserves" that make up the European energy market to create a true energy union that would ensure the EU's energy independence while keeping prices down.
"It is urgent to establish a genuine Energy Union. It will be an essential pillar of the EU sovereignty," he said in a statement.
Michel blamed lack of uniformity for the current chaos on the EU’s single market, with the 27 competing among themselves for vanishing supplies. He said the member states must be prepared to give up their national competences for the sake of acting "more collectively."
European Union flags flap in the wind as two gardeners work on the outside of EU headquarters in Brussels, Wednesday, Sept. 11, 2019.  - Sputnik International, 1920, 06.10.2022
World
Prospects of Recession in EU Depend on Bloc's Management of Energy Crisis - EU Commission
"We must be willing to face the taboos surrounding national and EU competences. A resilient Energy Union will not magically appear from 27 national energy mixes — we must make them compatible," he said.
The new union, according to Michel, should be able to reduce energy consumption, diversify supply sources and use the collective buying power to avoid competition that has been driving up prices for all.
The EU imported 380 billion euros ($369 billion) worth of energy in the first half of 2022, which is close to what it usually pays for an entire year, Michel said. Another half a trillion euros has been spent on efforts to cushion the impact of soaring energy bills on households and businesses after the EU curbed imports of Russian fossil fuels in retaliation for its operation in Ukraine.
Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала