Energy Crisis: Europe Prepares for Winter

Winter is here, and with cold days ahead, Europe’s energy grid is doing all it can to stay intact during the ongoing energy crisis. With high energy costs, many are taking it upon themselves to cut costs by reducing the use of power in their homes. By reducing energy consumption for the short-term, it would cut household costs for the consumers, however when temperatures begin to drop, it can be a leading concern for illness or even in some cases, death. To avoid this, Utilita Energy is urging electricity providers to transition old electricity meters to smart meters, so providers can detect when households aren’t using any electricity. Many are facing considerably higher electricity bills with the increase in prices for households and government subsidies totaling $20 billion. As the energy crisis continues, as many as 8.4 million people will slip into poverty next year when the new price cap kicks in April of 2023.

             As British households are taking it upon themselves to reduce energy costs, the Swiss government is taking it upon itself to avoid an energy grid blackout. In the instance of an electricity shortage this winter, part three of a four-step plan, Switzerland could potentially ban the use of electric vehicles (EVs). Switzerland typically imports most of its electricity from France and Germany to meet their energy demands, and with the current supply constraints, the country is preparing for extreme conditions.

France is typically an exporter of electricity, but due to the current climate, they could face the risk of power cuts throughout this winter themselves. Germany is in a similar situation, because they are unable to rely on the Nordstrum pipeline for fuel.

             Many European Companies are taking it upon themselves to limit their energy costs or have a plan in place in case things get worse during  the winter months. There are many other factors, but the COVID-19 pandemic and the Russian-Ukraine war have exposed the world’s energy grid as is it, outdated. 

Over 2 Million British Households Could Unplug From The Energy Grid This Winter | OilPrice.com

Switzerland Considers Electric Vehicle Ban To Avoid Blackouts | OilPrice.com

Follow this link to subscribe to our blog!

Written by:

By actively listening to every customer, I strive to build their trust in finding their specific fueling needs. I take pride in providing world-class customer service, acting as their personal consultant, and building long-lasting professional relationships for many years to come.

Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED “AS IS,” WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.