
EU Energy Ministers: Discord over Price Cap for Russian Gas
A leaked draft EU law envisioning a mandatory 5% cut in electricity use during peak price hours proved controversial.

A leaked draft EU law envisioning a mandatory 5% cut in electricity use during peak price hours proved controversial.

Heating one’s home and water to more than 19°C and 60°C, respectively, may result in daily fines of up to 3,000 Swiss Francs and prison sentences up to three years.

Does Germany anticipate an insolvency wave this fall? The minister of economy says “No,” adding that companies might “stop production for some time.”

EU member states were blindsided by von der Leyen’s statements, issued a day before they were all scheduled to meet to discuss block-wide proposals to lower energy prices.

The Austrian energy giant’s call for financial assistance came a day before Uniper, one of Germany’s largest energy companies, asked for more state-backed loans to cope with runaway costs.