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EU Announces “Emergency Measures” to Ration Energy Across Europe

EU Announces “Emergency Measures” to Ration Energy Across Europe

German state TV ARD: “Germany is heading directly into a recession.” 

Days after Russia’s undersea gas pipelines to Europe blew up, the European Union has passed sweeping “emergency measures” to ration energy consumption across the continent.

Following Friday’s agreement, the EU member states “will ration electricity by 5 percent at peak hours this winter, on top of previous commitments to bring down gas usage,” Politico noted. In late July, EU countries agreed to cut their natural gas demand by 15 percent.

The first-of-its-kind emergency package passed by EU’s 27 member states seeks to reduce the demand for electricity in one of the world’s most industrialized regions. On Friday, EU energy ministers agreed on “common measures to reduce electricity demand,” the EU declared in a statement on Friday.

The emergency package will allow for the ‘redistribution’ of huge profits being made by European energy companies in the wake of the Ukraine war, the EU claims. Brussels will “collect and redistribute the energy sector’s surplus revenues” to European consumers, the EU statement said.

The French TV channel Euro News reported the details of the EU emergency package:

EU energy ministers approved on Friday a first package of emergency measures in an effort to curb soaring electricity bills and coordinate member states’ responses to the energy crisis.

The package, negotiated in less than a month, includes mandatory power savings, a cap on excess market revenues and a levy to capture surplus corporate profits. (…)

The agreement comes as inflation in the eurozone hit double digits – 10% – for the first time in the history of the single currency, primarily driven by skyrocketing energy bills.

EU energy ministers approved on Friday a first package of emergency measures in an effort to curb soaring electricity bills and coordinate member states’ responses to the energy crisis. (…)

The package, negotiated in less than a month, includes mandatory power savings, a cap on excess market revenues and a levy to capture surplus corporate profits. (…)

While the package represents a decisive step forward in the EU’s reaction to the energy crisis, there is broad consensus that further action is needed before the winter season arrives.

Germany’s €200Bn Relief Package

Germany, worst hit by the disruption of Russian energy supply, announced a multi-billion package for households and industry.

The relief measures come as thousands of Germans take to street against soaring fuel prices and energy bills. Germany’s industrial production has also slumped due to high energy costs. “Germany is heading directly into a recession,” German state TV ARD admitted Thursday.

The German state broadcaster Deutsche Welle reported the government relief package:

The German government on Thursday presented plans for an energy relief package worth €150-200 billion ($145-194 billion) as households and businesses are faced with rapidly rising energy bills.

The new relief measures include a gas price cap that is to be financed by the Economic Stabilization Fund (WSF), which was originally set up to cushion the economic and social impacts of the coronavirus pandemic on the economy.

Europe In “Energy War With Russia”

Having ignored former U.S. President Donald Trump’s repeated warnings over Europe’s fatal dependence on Russian energy, European leaders are finally waking up to the reality.

“We’re in an energy war with Russia,” Czech Republic’s Industry Minister Jozef Síkela said defending the EU emergency package.

With Russian Nord Stream 1 and 2 damaged beyond repair, Europe is heading into a cold and dark winter. As Europe’s gas and oil reserves dwindle, further energy rationing and cuts are to be expected, media reports suggest.

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Comments

Conservative Beaner | October 1, 2022 at 2:15 pm

This will not affect the elites as they will “vacation” or find other living arangements off the continent.

“Collect and redistribute the energy sector’s surplus revenues’

And who exactly decides what is ‘surplus’.

This is nothing but idiotic price controls, and the jackasses are going to act shocked when the energy companies cut production so they don’t produce ‘surplus’ revenues’.

These idiots are so stupid its actually painful.

Looks like Trump is having the last laugh, huh Jerry?

ThePrimordialOrderedPair | October 1, 2022 at 2:42 pm

and a levy to capture surplus corporate profits.

“Surplus profits” … that’s pretty nifty language, there. I like the “capture” part, too. I see a Nobel in Literature for someone, here …

Jordan Peterson’s words here are right on the mark. Eliminating the best to promote the worst, what we see from globalism, is the way of the stupid or the tyrant. They are both.

This is a very serious issue. I am surprised that the Biden Administration has not declared a “natural gas emergency” under the NGPA of 1978 and maximize the shipment of LNG from the United States to Europe.

    CommoChief in reply to lawgrad. | October 1, 2022 at 4:29 pm

    Several problems with that.
    1. LNG export terminals are basically maxed now. Additional pipelines to move the gas to export terminals would be required.
    2. Environmental whackos oppose additional pipelines; that was one of the goodies promised to Manchin which the d/prog derailed.
    3. Some d/prog are already talking about export limitations due to ‘shortages’ in the NE. Not really a historical shortage but higher demand, slightly less inventory and lack of…you guessed it pipeline capacity.
    4. Shortage of ships to transport LNG both internationally and domestically; Davis Bacon Act requires US flagged vessels to move between two US ports.

      henrybowman in reply to CommoChief. | October 2, 2022 at 2:23 am

      Gee. If only we had a pipeline designed to deliver LNG to export facilities. 🤡🤣🤣🤡
      DAY ONE, BRANDON!!

      What is missing from everyone’s analyses is the role of the major players and their “big game”. I maintain that we are being played and the invisible player we keep leaving out of our analyses is the WEF and how they operate. Here is a must read for people who are interested of what really happens behind the headlines:

      https://tomluongo.me/2022/09/29/the-curious-whodunit-of-nordstreams-1-and-2/

      My main strategy in investing is to follow the money. Money doesn’t lie. Money is power and those with the most efficient economies win. In the end, it’s not the money these players want, it’s the power that comes with it. Now read that article with that in mind and tell me if the author Tom Luongo makes sense.

      We are all compartmentalizing our analyses bases on our own limited understanding of how the world works. Micro analysis is a dead end in this game. The people driving events don’t care about what we think or even what most among them think. This is a global event we are living through and desperate players are making their big move. No, it’s not Brandon or Putin or the EU or the neocons. Think bigger.

      As always, none of us really KNOW anything. We take positions on what we believe. There is a lot of information in this essay and it is organized very intelligently into a global narrative that makes sense and we are generally missing the nuances that tie it together.

      I guess what made me sit up upon reading this is that earlier this week, I had made the comment that we should be retreating from the Russian/Ukraine war because we are being played and that if we were going to have the ability to help the world, we first needed to get our shit together. We need to focus on THAT. So here is a direct quote from that essay:

      “I hate to break it to America’s haters but us getting our shit together is the world’s only real hope.”

      I’m still working my mind around this essay and I find myself reinforcing many of his arguments myself while highlighting statements I need to rethink. So I’m not completely on board with this yet but man, this sure makes most of the pieces come together into one solid narrative. Now to look for holes in the arguments and see if it gets stronger or weaker.

        BTW, I would add that with the thrust of arguing that the world needs a strong America, it makes a big case for MAGA. We aren’t being be smart in playing our winning cards. We cannot afford fighting this proxy war with Russia which will certainly end in a full blown direct war. We need a timeout to rebuild our economy and refocus our foreign policy to serve American interests. The rest of the world will have to wait.

Idiot Merkel’s foul, bloodstained and destructive legacy. Recall all the European Leftists and American Dumb-o-crats who loudly lionized her and feted her as the alleged true leader of the west, in contrast to President Trump. Yet, it was President Trump’s warning regarding Germany’s naive and foolish dependence on Russian energy that was prescient and wise, while Merkel’s myopic appeasement of Putin enabled and funded his belligerent predations.

    Paul in reply to guyjones. | October 1, 2022 at 3:31 pm

    Don’t forget her idiotic moves to flood the European continent with millions upon millions of uneducated illegal aliens.

      randian in reply to Paul. | October 1, 2022 at 7:09 pm

      Don’t forget her idiotic moves to flood the European continent with millions upon millions of uneducated illegal aliens.

      I wonder what she’s getting paid to do that. Paying traitors was a classic means Muslims employed to win sieges and wars.

    JOBBOSS in reply to guyjones. | October 1, 2022 at 4:19 pm

    People forget that Angela Merkel lived and worked most of her life in East Germany dominated by the old Soviet Union. She has a special place in her heart for people like former KGB Lieutenant Colonel Vladimir Putin.

Coming soon, to a gas station and power plant near you!

What happened to global warming/climate change? Isn’t it too bad when reality bites fantasy in the ass?

The EU needs to give up its fantasy of green energy and start the process of bringing power plants back online that use nuclear, coal, natural gas, and oil. Get hot or go home!

Classic socialism on display-
Private ownership but government will confiscate “excess profits” so even the “mom & pop” investors and employee retirement funds will see no earnings.

“We’re in an energy war with Russia,”
No, you are in a war with your own governments and their clean air fantasies.

nordic prince | October 1, 2022 at 6:45 pm

Gee maybe Burisma can step up and supply the gas. How convenient.

“We need to do that in America, too. To save the planet. If not for the semi-fascist ultra-MAGA domestic terrorists we could.”

— Brandon and the Dems. Oh, and the neverTrump neocons.

Rationing. Michelle Malkin warned us relentlessly about this 20 years ago. She doesn’t get enough credit for how right she has been all along about everything.

And guess what? You know WHAT country doesn’t have a shortage of energy fuels?

I’ll give you a hint: It’s on the eastern end of the Mediterranean and the EU hates it more than any other nation on earth.

BierceAmbrose | October 2, 2022 at 4:56 pm

So, the Central Scutinizers who’s grand systems and schemes are failing are gonna grand system, scheme (and Centrally Scrutinize, no doubt) the way out of this. It’s like they only know one trick.

Weird how the Centralized Scrutiny and grand systems persist through kerfuffles and grand schemes, regardless of how that works out for HausFrau gathering wood for heating and stoves.

Maybe not so weird.

BierceAmbrose | October 2, 2022 at 4:58 pm

Have we seen Western European folks — pardon “Volk” — scrounging for Winter fire wood since the last great war to end all wars (or something?)

Asking for a few 100 million friends operating under a better plan, this time.

BierceAmbrose | October 2, 2022 at 5:10 pm

If you’re not on the gas distribution system(*), you’re a lot less bugged by some distant kerfuffle about who’s pile of proles is who’s to rake-off.

They — excuse me: “There are those who…” — sure want to force us to care about their shenanigans, don’t they?

(*) Anybody cares, I’ll break down the single-dwelling / homestead power options as they currently stand. By line item w/o all the details.