Gas supplies: will Vladimir Putin turn off the taps?
It’s going to be an ‘ugly’ winter as Europe prepares for energy austerity
“Is Europe now on the brink of a new age of energy austerity,” asked Thomas Fazi on UnHerd. Several European nations are considering dimming or switching off public lights, or even adopting “energy curfews”, which would force the early closure of businesses and public offices. The city of Hanover in Germany has cut off hot water in all its public buildings, swimming pools, sports halls and gyms. These measures were devised to meet an EU-wide gas reduction plan, Save Gas for a Safe Winter, to reduce consumption by 15% until next spring – a belated response to Russia’s reduction of gas exports, which are at about a third of last year’s levels.
Germany, which before the war got over half of its gas from Russia, is on the front line: more than 15% of its industrial companies have already had to reduce production. It goes without saying, however, that a further decrease in Russian gas flows, particularly during winter, would have “catastrophic consequences”. Germany’s foreign minister, Annalena Baerbock, warned that it “could spark popular uprisings”.
Putin will probably keep decreasing the gas, “in the hope that Europe panics about what lies ahead”, said Patrick Wintour in The Guardian. The EU is preparing itself: hoping to fill 80% of its storage capacity by October, and scouring the world for alternative sources. But the fact that some countries “are more exposed to Russian intimidation than others” means that it has struggled to present a united front. Russia, by contrast, is making hay. Russian gas exports fell by a quarter in June compared with last year, but earnings rose to $11.1bn from $3.6bn.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
UK could see ‘significant unmet demand’
Britain has better energy security than most European nations, but it’s not invulnerable either, said David Sheppard in the FT. If Moscow cuts off the supplies, the UK is likely to face shortages too, because it’s part of the wider European market. A study by the Department for Business found that if that happened, the UK could see “significant unmet demand”: factories, possibly even homes, could be cut off.
Either way, we are going to face a big financial hit, said The Times. Analysts expect the energy price cap to reach £3,500 per year for a typical dual-use tariff in October. Families can expect to spend more than a quarter of their post-tax incomes on energy this winter. “There are few quick fixes,” said Juliet Samuel in The Daily Telegraph. Fracking, increased North Sea production and new nuclear plants are years away. In the short-term, we ought to be at the front of the queue for long-term gas contracts with reliable suppliers, and we should be insulating homes as fast as we can. But whatever happens, it’s going to be an “ugly” winter.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Today's political cartoons - November 2, 2024
Cartoons Saturday's cartoons - anti-fascism, early voter turnout, and more
By The Week US Published
-
Geoff Capes obituary: shot-putter who became the World’s Strongest Man
In the Spotlight The 'mighty figure' was a two-time Commonwealth Champion and world-record holder
By The Week UK Published
-
Israel attacks Iran: a 'limited' retaliation
Talking Point Iran's humiliated leaders must decide how to respond to Netanyahu's measured strike
By The Week UK Published
-
Israel attacks Iran: a 'limited' retaliation
Talking Point Iran's humiliated leaders must decide how to respond to Netanyahu's measured strike
By The Week UK Published
-
Has the Taliban banned women from speaking?
Today's Big Question 'Rambling' message about 'bizarre' restriction joins series of recent decrees that amount to silencing of Afghanistan's women
By Harriet Marsden, The Week UK Published
-
Cuba's energy crisis
The Explainer Already beset by a host of issues, the island nation is struggling with nationwide blackouts
By Rebekah Evans, The Week UK Published
-
Did the Covid virus leak from a lab?
The Explainer Once dismissed as a conspiracy theory, the idea that Covid-19 originated in a virology lab in Wuhan now has many adherents
By The Week UK Published
-
Exodus: the desperate rush to get out of Lebanon
Talking Point As the Israel-Hezbollah conflict escalates Lebanon faces an 'unprecedented' refugee crisis
By The Week UK Published
-
A storm of lies: the politics of hurricane season
Talking Point Trump and allies weaponise hurricane season, falsely accusing Biden-Harris administration of misusing relief funds
By The Week UK Published
-
The death of Hassan Nasrallah
In the Spotlight The killing of Hezbollah's leader is 'seismic event' in the conflict igniting in the Middle East
By The Week UK Published
-
Politicising the judiciary: Mexico's radical reform
Talking Points Is controversial move towards elected judges an antidote to corruption in the courts or a 'coup d'état' for the ruling party?
By The Week UK Published