EU Energy Ministers to Discuss Soaring Fuel Prices
Ministers will weigh refinery output and bill cuts as gas prices hit 100 euro per MWh and storage falls to 75%, officials said.
- Energy ministers convened in Brussels on Thursday to address security ahead of the winter heating season, as conflicts in Iran, Ukraine, and Yemen drive oil and natural gas prices to triple pre-Iran war levels.
- Fighting has damaged refineries across the Middle East and Russia, hampering energy flows through vital shipping lanes in the Black Sea, Red Sea, and Strait of Hormuz.
- Europe enters the winter heating season with storage at only 75% capacity, down from 83% a year ago, while wholesale gas prices briefly touched €100/MWh on Wednesday for the first time since December 2022.
- The Commission began talks with European refineries yesterday to boost output through technical specification adjustments, while proposing tax and grid fee reforms to lower electricity bills.
- Energy Commissioner Dan Jorgensen warned Europe faces a "very serious situation," as Western powers agreed this month to accelerate the release of over 400 million barrels of emergency oil stocks.
51 Articles
51 Articles
Papastavrou Calls for Targeted, Temporary Measures to Cut Energy Costs
ATHENS – Environment and Energy Minister Stavros Papastavrou on Thursday stressed the need to make use of the flexibility offered by the escape clause to introduce targeted, temporary measures without delay to reduce energy costs for households and businesses, upon his arrival at the EU Energy Council in Luxembourg. The agenda also includes energy security...
EU energy ministers are meeting in Luxembourg on Thursday to discuss energy security prospects for the upcoming winter season and beyond, vowing to address supply and price increases caused by Russia's aggression against Ukraine and the conflict in the Middle East.
Greece’s Papastavrou says GSI is ‘proceeding with a plan’
Greek Energy Minister Stavros Papastavrou on Thursday said that the planned Great Sea Interconnector project to link the energy grids of Cyprus, Greece and Israel, is “proceeding with a plan”, as he arrived at the Council of the European Union’s transport, telecommunications and energy (TTE) council meeting in Luxembourg. “I will inform my counterparts about […]
Energy accuracy, network charges and taxation at the heart of today's EU Council - What is Eurelectric asking for, what agenda is Greek Energy Minister Stavros Papastavrou called upon to manage. The post Electricity prices in Europe in the red against a backdrop of 300 euros/MWh appeared first on in.gr.
EU energy ministers to discuss soaring fuel prices as winter looms
EU Scrambles to Contain Energy Price Crisis Ahead of Winter
The energy ministers of EU member states are meeting today to discuss how to tackle a worsening energy price crisis as winter approaches, and with it, peak heating demand season. The meeting follows reports from Wednesday citing Energy Commissioner Dan Jorgensen as saying a series of refinery closures in EU member states over the past 20 years was a mistake as the diesel squeeze pushes prices to all-time highs. Natural gas prices in the EU, mean…
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