Energy

Oil prices inch lower as dollar firms, China COVID worries dent demand

Oil prices slid on Tuesday, extending losses of nearly 2% in the previous session, as a stronger U.S. dollar and a flare-up in COVID-19 cases in China raised concerns of…

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Russian gas supply gap casts chill in Europe as winter nears

Europe needs to pay up to import liquefied natural gas, pray for a mild winter and cut energy demand as any sabotage of infrastructure or even deeper cuts to Russian…

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Austria seeks allies for legal challenge to EU green investment rules

Austria said it was seeking to enlist other European Union countries to support its legal action against Brussels for labelling investment in gas and nuclear power as "green". Vienna on Friday…

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Italy’s telecoms lobby urges EU to help lower energy bills, avoid power cuts

MILAN, Oct 10 (Reuters) - Italy's telecoms lobby has called on the European Union to consider ways to help the industry cope with rising energy costs as well as to…

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EU leaders turn to gas price caps to end energy crunch

BRUSSELS, Oct 7 (Reuters) - European Union leaders will lock horns on Friday over whether and how to cap gas prices, as they attempt to curb a surge in energy…

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France steps up efforts to protect companies against surging energy prices

PARIS, Oct 5 (Reuters) - France announced on Wednesday that it was stepping up efforts to protect its companies against surging energy prices, with the country's top energy supplierssigning a…

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Tax people in this room’ to help the poor, Shell CEO tells energy conference

European governments should tax the wealthy to help weaker parts of society weather soaring energy costs but not intervene to cap gas prices, Chief Executive Officer Ben van Beurden said on Tuesday.…

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Grim winter looms as wartime Ukraine braces for infrastructure attacks

In an abandoned tower block damaged by Russian shelling in Ukraine's second city, Olga Kobzar plans to tough out winter for as long as she can without electricity, water and central heating…

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Top EU officials call for joint borrowing to deal with energy crisis

Two top European Commission officials called on Tuesday for joint borrowing by the 27-nation European Union to finance a response to the energy price crisis that is threatening to plunge the bloc…

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Britain at ‘significant risk’ of gas shortages this winter, says regulator

Britain faces a "significant risk" of gas shortages this winter and a possible emergency due to the conflict in Ukraine and limited supplies in Europe, the energy regulator has said. Although Russia only…

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Oil jumps $4 as OPEC+ weighs biggest output cut since 2020

Oil prices jumped by about $4 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its…

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Worst Ever Bird Flu Crisis in Europe Raises Risks for Next Season

Europe has experienced its worst bird flu crisis ever this year with nearly 50 million poultry culled, and the persistence of the virus over the summer has raised the risk…

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Greece to present proposal on EU gas price cap this week – energy minister

Greece will submit a technical proposal for a cap on natural gas prices to the European Commision later this week following consultations with other European countries, its energy minister said…

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Italy strengthens surveillance on gas pipelines after Nord Stream leaks

ROME, Sept 30 (Reuters) - Outgoing Prime Minister Mario Draghi's government has strengthened naval surveillance and controls on the pipelines bringing gas to Italy from the south and east, two…

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UPDATED: EU countries approve energy windfall levies, turn to gas price cap

BRUSSELS, Sept 30 (Reuters) - European Union countries agreed on Friday to impose emergency levies on energy firms' windfall profits, and began talks on their next move to tackle Europe's…

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Italy’s regulated household electricity prices to rise 59% – ARERA

ROME (Reuters) - Italy's regulated household electricity prices will increase by 59% in the fourth quarter, Italy's energy authority ARERA said in a statement on Thursday, as Russia's war on…

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EU countries head for deal on energy windfall levies, split over gas price cap

BRUSSELS, Sept 29 (Reuters) - European Union countries are poised to approve a package of emergency measures including windfall profit levies on energy companies on Friday, at a meeting where…

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EU countries at odds over possible gas price cap

BRUSSELS, Sept 28 (Reuters) - European Union countries were at odds on Wednesday over whether to cap gas prices in the bloc, with France, Belgium and 13 other states stepping…

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Europe’s generic drugmakers may cut output due to surging energy bills

FRANKFURT, Sept 28 (Reuters) - Europe's drug makers have warned they may stop making some cheap generic medicines because of surging electricity costs and are calling for an overhaul of…

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Gas crisis lands LNG cargo market in hands of energy giants

Sky-rocketing LNG cargo prices have squeezed out dozens of smaller traders, concentrating the business in the hands of a handful of international energy majors and top global trading houses. This…

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Shell sees 2024 global demand for aviation fuel return to level before pandemic

Global aviation fuel demand is expected to fully recover to pre-pandemic levels of 300 mln tonnes per year in the next one to two years, the head of aviation at…

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Group of countries to push EU for gas price cap -letter

BRUSSELS, Sept 26 (Reuters) - A group of European Union countries want to push Brussels to produce plans this week for a bloc-wide cap on the price of gas, according…

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Europe’s vegetable farmers warn of shortages as energy crisis bites

BOUVINES, France (Reuters) - Emmanuel Lefebvre produces thousands of tonnes of endives on his farm in northern France annually, but this year he may abandon his crop because of the…

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EU’s green shift depends on mammoth investment in energy grid – draft

BRUSSELS (Reuters) - Investments of more than half a trillion euros will be needed to modernise Europe's energy grid this decade, if countries are to succeed in ramping up wind…

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EU considers more action to tame energy prices, fix liquidity squeeze

BRUSSELS, Sept 22 (Reuters) - The European Commission is working on more measures to tame sky-high gas prices and support energy firms facing a liquidity crunch, and may lay out…

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German union calls on banks to pay workers 1500 euro energy bonus

BERLIN, Sept 21 (Reuters) - The German union Verdi on Wednesday called on Germany's top banks to pay some of its lowest-earning workers a special bonus to help them combat…

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European governments spend half a trillion euros on energy crisis – Bruegel report

BRUSSELS, Sept 21 (Reuters) - Governments in Europe have earmarked nearly 500 billion euros in the last year to cushion citizens and companies from soaring gas and power prices, according…

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UPDATED: Britain halves electricity and gas prices for businesses

LONDON, Sept 21 (Reuters) - Britain said on Wednesday it would cap the wholesale cost of electricity and gas for businesses at less than half the market rate from next…

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German utilities close to long-term LNG deals with Qatar

German energy companies RWE and Uniper are close to striking long-term deals to buy liquefied natural gas (LNG) from Qatar's North Field Expansion project to help replace Russian gas, three…

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Farm and food investors face $150 billion loss on climate change – report

Top farming and food firms could lose up to a quarter of their value by 2030 if they do not adapt to new government policies and consumer behavior tied to…

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Europe races to prepare for energy crunch this winter

PARIS/MADRID/BERLIN, Sept 19 (Reuters) - European governments outlined new measures on Monday to cope with potential energy shortages this winter and raced to improve energy networks to share power, with…

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France denies it may halt power exports to Italy

PARIS, Sept 17 (Reuters) - France on Saturday denied reports that state-controlled utility EDF EDF.PA had warned Italy it may halt its power exports to the country and reaffirmed its commitment to "solidarity" with…

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Norway to help ease pain of rocketing power prices on businesses

OSLO, Sept 16 (Reuters) - Norway's government on Friday presented a long-awaited package of loans and subsidies to help curb the impact of sky-high power prices for businesses, the latest…

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Germany takes control of Russian-owned refinery amid Europe’s energy crisis

BERLIN, Sept 16 (Reuters) - Germany took control of a major Russian-owned oil refinery on Friday in the latest move to shore up vital energy supplies that have been jeopardised…

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Poland to freeze electricity prices for households in 2023

Poland plans to freeze in 2023 electricity prices at current levels for households consuming less energy, the ruling Law and Justice (PiS) leader said this week, as the government looks…

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Von der Leyen proposes crisis measures to curb energy price spike

The European Union will propose measures to cap revenues from low-cost electricity generators and force fossil fuel firms to share the profits they make from soaring energy prices, European Commission…

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Germany, EU race to shore up struggling energy firms

Germany said on Tuesday it aimed to expand lending to energy firms at risk of being crushed by spiralling gas prices, the latest effort in Europe to rescue households and…

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EU countries can use 225 bln euros of EU loans for energy crisis

European Union countries can use 225 billion euros in untapped loans from the EU's recovery fund to address energy problems and other challenges resulting from the Russian war in Ukraine, a senior EU official said on Monday. The European Union…

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EU eyes levy on fossil fuel firms to help consumers survive energy crisis

Fossil fuel firms may have to share their excess profits to help European households and industries cope with red-hot energy bills, a draft European Union plan showed on Monday as…

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Germans switch to costly fan heaters as gas shortage fears bite

FRANKFURT, Sept 11 (Reuters) - Germans could overload their power grid as they switch to inefficient electric heaters in an attempt to avoid gas shortages this winter, utilities warned in…

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Norway PM says cap on gas price won’t solve Europe’s shortage

OSLO, Sept 12 (Reuters) - Norway and the European Union have agreed to a closer dialogue on proposals to resolve Europe's energy crisis, Norwegian Prime Minister Jonas Gahr Stoere said…

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EU readies energy package, countries split over gas price cap

BRUSSELS, Sept 12 (Reuters) - The European Union is set to unveil a package of proposed emergency measures this week including a windfall profit levy on energy firms, but countries…

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Hungary aims to cut gas use 25% at public institutions

BUDAPEST (Reuters) - Hungary aims to cut gas consumption by 25% this heating season at public institutions and companies except for hospitals and social institutions due to surging energy costs,…

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Greece tells state entities to save energy or risk losing funding

ATHENS, (Reuters) - Greek state entities will risk losing government funding if they fail to implement a government energy-saving plan, ministers said this week, as the country, like its European…

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EU to claw back energy firms’ profits rather than cap Russian gas price

EU energy ministers on Friday tasked the European Commission to press ahead with a cap on the revenues of non-gas power producers benefiting from soaring energy prices, while backing away from capping Russian…

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EU countries seek emergency solution to soaring energy bills

European Union countries' energy ministers meet on Friday to search for solutions from a long list of possible measures to shield citizens from sky-high energy prices as winter approaches. The…

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Germany to subsidise basic level of power for homes, businesses – ministry paper

BERLIN, Sept 8 (Reuters) - Germany plans to subsidise a basic level of electricity usage for households and set aside cheaper power for small and medium-sized businesses, according to measures…

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Dutch bakeries face threat of closure as energy costs surge, industry bodies say

AMSTERDAM (Reuters) - A surge in energy prices is threatening a wave of closures across the Dutch bakery sector, its industry lobbies warned, with some businesses saying costs have risen…

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EU power industry urges governments to step in to avoid cash squeeze

BRUSSELS, Sept 7 (Reuters) - Europe's electricity industry body has urged governments to provide emergency credit to energy companies facing a liquidity squeeze from soaring collateral needs as power prices…

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UPDATED: EU to propose price cap on Russian gas, von der Leyen says: Plans non-gas power price cap of 200eur/MWh

BRUSSELS, Sept 7 (Reuters) - The European Commission will propose a price cap on Russian gas, alongside measures including a mandatory EU cut in electricity use and a cap on…

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Ireland to turn heat down in public buildings, shut empty office floors

DUBLIN (Reuters) - Ireland will turn the heating down in public buildings and ask public sector office employees to work on the same floor under energy-saving measures set to be…

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Italy may cut heating temperature further in case of gas “catastrophe” – minister to paper

MILAN, Sept 7 (Reuters) - Italy could consider lowering the heating temperature in industrial and residential buildings by 2 degrees Celsius in case of a "catastrophe" over Russian gas flows,…

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UK weighs huge support package as Europe battles energy crisis

Britain's new prime minister was working on what looks set to be Europe's biggest energy crisis support package so far as countries scramble to protect households and businesses from soaring…

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Italy to cut gas consumption to weather energy crisis

Italy plans to turn down the heating in homes and businesses to help cut gas consumption by around 5.3 billion cubic metres to reduce the risks associated with a total interruption of gas flows from Russia, the…

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Czech EU presidency says two proposals exist for setting maximum energy prices

PRAGUE (Reuters) - There are two proposals in the European Union on how to set maximum prices on energy that the bloc's energy ministers will discuss on Friday, Czech Industry…

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Portugal rolls out number of measures to help families fight inflation

Portugal's government on Monday rolled out additional measures worth 2.4 billion euros ($2.38 billion) to help families cope with soaring inflation, following similar announcements in other European countries in recent weeks.…

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Gazprom says Nord Stream 1 resumption depends on Siemens Energy

Russian natural gas pipeline Nord Stream 1 will not resume shipments until Siemens Energy ENR1n.DE repairs faulty equipment, Gazprom’s Deputy Chief Executive Officer Vitaly Markelov told Reuters on Tuesday. “You should ask Siemens. They have to repair equipment first,”…

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