Europeans on the move to lower their energy bills – Le Monde

A floating storage and regasification unit moored at the new EemsEnergyTerminal in Eemshaven, the Netherlands, September 8, 2022. In order to be less dependent on Russian gas, the terminal will transform liquefied natural gas into gaseous natural gas, which will be then injected into the national natural gas network. SIESE VEENSTRA / AFP At the start of the summer, while the war in Ukraine was dragging on and Russia had already drastically reduced its gas deliveries, the Europeans feared above all to run out of this hydrocarbon for the winter coming. The Kremlin has since shut down the Nord Stream 1 gas pipeline and continued to ration its European customers. However, on Friday, September 9, the energy ministers of the Twenty-Seven, who were meeting in Prague, were not alarmed. With rare exceptions, they believe they have done what is necessary to ensure their fellow citizens relative energy security. Admittedly, Slovakia and the Czech Republic remain dependent on Russian gas. Of course, German industry has not yet completely freed itself from it. But the vast majority of Europeans today can live without Russian gas: before the war, it represented 10% of their energy consumption; today the figure is down to 2.5%. The increase in gas stocks – reserves are filled on average at 83% of their capacity within the European Union (EU) –, the drop in demand, the improvement of interconnections between European countries and the use of other suppliers – United States, Algeria, Norway, Qatar… – enabled them, in record time, to get rid of the Moscow yoke. Read also: Article reserved for our subscribers Energy: Brussels advances the first tracks But by throwing all their weight to prevent gas supply disruptions, the Twenty-Seven have contributed to its increase in Europe. Especially since the Kremlin knew how to “manipulate” the markets, as Ursula von der Leyen, the President of the Commission, repeats. Curbing inflation In the aftermath, electricity prices soared. In fact, the single electricity market provides, in order to ensure supply for all, that its price is determined by the cost of the most expensive power station – generally a gas-fired power station – which will be called upon to meet Requirement. The drought this summer, which reduced hydroelectric production, and the difficulties of several nuclear power plants in France did not help. Read the decryption: Why the price of electricity depends on that of gas, and other questions about future bills In this context, it is no longer the gas supply that worries the Twenty-Seven but the soaring prices energy, which threatens the competitiveness of their businesses and fuels social tensions. “We managed the supply side”, but the problem today, “are the high prices”, judge Tinne Van der Straeten, the Belgian minister. On Friday, the EU27 therefore asked the Commission to make legislative proposals to them as soon as possible – it will be Tuesday 13 September – which will make it possible to curb inflation. “We will not let our citizens and our businesses down,” insisted Josef Sikala, the Czech Minister of Industry, whose country holds the rotating presidency of the EU Council. You have 55.84% of this article left to read. The following is for subscribers only.