European Union Faces Widespread Unrest as Green Policies See Energy Costs Soar

"Earlier this month, the electricity market operator for the Iberian Peninsula, OMIE warned that consumers in Spain and Portugal will see an average price of 140 euros ($165/£119) for a megawatt-hour of electricity" -

Toby Couture, director of E3 Analytics - “As we start phasing out coal and nuclear capacity that’s been in the system for decades, there’s a risk that prices will have to rise further,” he told the Financial Times.

“If it starts jeopardizing power reliability and significantly increasing energy prices that people pay, it could lead to significant political pushback.”

Speaking at Ecofin debate on Saturday, Spain’s deputy prime minister for the economy, Nadia Calvino said that the EU needs to be “mindful” of the impact of its green agenda on energy prices.
She said the rising cost “is obviously creating unrest in our populations and pressing the governments to take measures with a view to dampening or minimising the negative impact on household incomes and on the competitiveness of companies.”

Spain’s socialist government has removed the Value Added Tax on energy, however, the cuts have not seen a meaningful reduction in prices.

Continued at link.

Spain Moves to Reduce Rising Electric Bills -

Spain’s government promised to cap profits made by electricity companies as a result of the recent jump in the price of natural gas.

Wholesale prices for natural gas across Europe have soared to levels almost five times where they were in 2019. The rising price is causing electric bills to jump, because gas is often used to generate electricity. Some other European governments have also recently outlined plans to help consumers, including Greece, where the government is setting up a fund to subsidize the electricity bills paid by households.

'Shock Plan' Spain Plans Measures To Cut Soaring Energy Bills As Electricity Rates Hit Record Levels – Spain plans measures to cut soaring energy bills as electricity rates hit record levels

Meanwhile in Gibraltar – Chief Minister Fabian Picardo on Tuesday announced a hike in corporate tax from 10% to 12.5% and an increase in electricity rates as he delivered a “rebuilding” budget aimed at revitalising Gibraltar’s economy and public finances after a “revenue wrecking” pandemic –

Spain wants EU ‘menu’ of measures to combat power price surges

In Spain, wholesale electricity prices have more than trebled since December, sparking a political blame game. The government moved last week to cap prices and limit power companies’ profits.

“We urgently need a European policy menu predesigned to react immediately to dramatic price surges.”

Related - Spanish power companies clash with government over measures to reduce electricity bill –

An "Order Out of Chaos" Move?

Time to establish a ‘European Central Energy Bank’

Politicians have reacted with concern to these events. The Spanish sent a letter to the European Commission urging the EU to take action. The annexe argued for reform of the wholesale electricity market. The paper hints at some understanding of where the EU stands in the energy transition and the impacts this could have on price.

However, it fails to see the bigger transition picture, and its proposals address symptoms rather than causes of the current energy market failure.

Dr Stieber noted that such a “central energy bank” (CEB) could not only achieve the short-term political objective of avoiding highly volatile energy prices, it could go some way to supporting the investments needed for at least a doubling of renewable construction compared to current baselines.

Read more at link.

And before falling for this "plan" - watch Bright Green Lies.

Five European Union Countries Want Gas Market To Be Investigated As Prices Spike

Investigations into alleged price gouging of natural gas in the European market in recent months are needed, according to a joint statement made by the economy and finance ministers of Spain, France, the Czech Republic, Greece and Romania on Wednesday. The joint statement was posted on the website of France's Ministry of Economy. The statement said that in the case of gas, it is necessary to analyse the operation of the European gas market to determine why current gas contracts are insufficient. It further stated that to limit and moderate price increases, they need to develop universal guidelines on gas storage. Furthermore, to improve their bargaining power, they should better coordinate their gas purchases.

The ministers feel that a coordinated approach at the European level is required to respond quickly to pricing spikes. Furthermore, it is advocated that the EU power market be reformed in order to improve the ratio between the price consumers pay and the average cost of electricity production.

The five countries also stated that more predictable coal pricing is required in order to minimise excessive volatility.

More at link.

Govt Switch to ‘Greener’ Fuel Was ‘Major Factor’ in Fuel Crisis: Report

But it was the government’s ‘green’ push for retailers to switch over to E10 petrol that prompted fuel retailers to start “emptying their tanks as fast as we could” which then became a “major factor” in remaining extra stock quickly disappearing from forecourts when motorists began panic buying, according to The Telegraph. See link for more.

The Harsh Truth Behind Europe’s Energy Crisis

Political leaders will have to face the direct implications of higher energy bills or possible energy deficits for consumers and the industry. Both could lead to protests or political landslides during upcoming elections. Threats of an energy crisis are being discussed widely, but no real solutions except lower taxes are available. Due to higher energy costs, a possible record price level of $100 MMBtu or $250 per barrel of crude oil equivalent is very bad news for politicians, especially in the Netherlands, Germany, France, and the UK.

It remains unclear, however, whether European politicians are aware of the role that their own policies have played in creating this crisis.

It seems that Russia’s leader Vladimir Putin, however, is holding all the cards when it comes to natural gas in Europe. Without substantially more natural gas supply to Europe, consumers and industry may well be facing a winter of discontent.

By relying too much on renewables, the market became destabilized, but politicians and others didn’t want to admit it. Destabilization could and should be prevented, by acknowledging the fact that for the foreseeable future hydrocarbons, including coal, will be playing a significant role in the European energy market.

Read more at link.

European Energy Crisis — And is That Gas You Think You’re Burning?

Prices keep skyrocketing in Europe because there is no shortage of idiocy at the top of the European power structure.

Because all anyone official ever wants to do is blame the sneaky Russians to avoid their own responsibility for this.

Finally, after a couple of weeks of this howling, Russian President Vladimir Putin addressed the issue from their side.

I suggest strongly you read his remarks carefully. Because in there you’ll find a couple of ‘facts’ which make this entire crisis in Europe seem like yet another staged ‘false flag’ for political gain. Ready?

Read more at link.

And UK News about this engineered crisis -

Boris Johnson Planning Gas Tax Hikes to Pay for Green Agenda Despite Rising Costs and Shortages: Report

Millions of Britons will face even higher bills to heat their homes, as the government is set to double down on its radical green agenda.

The announcement will come amid an energy crunch in the UK and across Europe, with the government being warned that the average yearly energy bills could hit as high as £2,000 if prices continue to rise. The wholesale price of gas has already jumped ten-fold over this time last year.

This is a World wide affair and seemingly everyone was invited to the table.

Energy Crisis May Unleash Winter Blackouts Across US, Insider Warns

The energy crisis that is rippling through Asia and Europe could unleash electricity shortages and blackouts in the U.S., according to Bloomberg.

"We've actually had discussions with power utilities who are concerned that they simply will have to implement blackouts this winter," Thrasher warned.

He said, "They don't see where the fuel is coming from to meet demand," adding that 23% of utilities are switching away from gas this fall/winter to burn more coal.

With natgas, coal, and oil prices all soaring is a clear signal the green energy transition will take decades, not years. Walking back fossil fuels for unreliable clean energy has been a disaster in Asia and Europe. These power-hungry continents are scrambling for fossil fuel supplies as stockpiles are well below seasonal trends ahead of cooler weather.

That whole supply chain is stretched beyond its limits," Thrasher said. "It's going to be a challenging winter for us here in the United States."

Utility company Duke Energy Corp.'s Piedmont Natural Gas unit, covering North and South Carolina customers, warned power bills this winter are set to rise due to high natgas prices and low production.

Americans are hoping the energy crisis in Asia and Europe won't spread stateside. But industry insiders warn that winter blackouts across the US are possible as low fossil fuel stockpiles may lead to shortages amid heightened demand.

The latest concern is ultra-low stockpiles of heating oil (distillate fuel oil). In the winter of 2019–2020, about 5.5 million households used heating oil as their primary heating source, and 81% of those households were in the Northeast.

Energy Information Administration (EIA) reports there are only 31.2 days of the demand for heating oil, the lowest levels since 2000.

Ireland's manufactured energy crisis

(11:34 mins by Dave Cullen)

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