European Union Working to Reduce Energy Costs This Winter

As tensions rise with Russia over supply cuts, the European Union on Friday increased its efforts to protect the people from soaring energy prices that threaten to throw millions into cold and poverty this winter.

According to various ministers, getting to an agreement would be hard considering each country’s energy mixes, supplies, and needs. Russia restricted natural gas supplies that power companies, generate electricity, and heat homes, raising energy prices and generating inflation that could tip Europe into a crisis this year.

“The big interference here is from the Russian government. They, through their acts, have used gas as a weapon of war,” said Eamon Ryan, Irish Transport, Environment and Climate Minister. “We have to intervene because the whole market has been played with.”

Ryan demanded action “within weeks, not months.” This fall, he remarked, “when we’re really going to see the high prices having effect, that’s when we need the support, that’s when we need to get some of that money.”

“There is no time to wait, and we have to be swift and united,” said the industry minister of the Czech Republic, Jozef Sikela this Friday.

this crisis would not only affect households but energy-powered companies and the economy as a whole. Ursula von der Leyen, president of the European Commission, has called Russia’s threat to cut off gas to the EU a type of “blackmail.”

Before President Putin invaded Ukraine, Russian pipeline gas provided 40% of all gas Europe imported; today, it amounts to only 9%.

Original source material for this article taken from here