The Fort Worth Press - Energy crisis to dominate EU chief's annual speech

USD -
AED 3.672904
AFN 68.266085
ALL 93.025461
AMD 389.644872
ANG 1.80769
AOA 912.000205
ARS 998.187341
AUD 1.54681
AWG 1.795
AZN 1.699915
BAM 1.85463
BBD 2.025224
BDT 119.861552
BGN 1.857551
BHD 0.376464
BIF 2962.116543
BMD 1
BND 1.344649
BOB 6.930918
BRL 5.79695
BSD 1.002987
BTN 84.270352
BWP 13.71201
BYN 3.282443
BYR 19600
BZD 2.02181
CAD 1.40854
CDF 2865.000289
CHF 0.88849
CLF 0.035528
CLP 975.269072
CNY 7.232497
CNH 7.238275
COP 4499.075435
CRC 510.454696
CUC 1
CUP 26.5
CVE 104.561187
CZK 23.98011
DJF 178.606989
DKK 7.07951
DOP 60.43336
DZD 133.184771
EGP 49.34435
ERN 15
ETB 121.465364
EUR 0.94915
FJD 2.27595
FKP 0.789317
GBP 0.79254
GEL 2.735018
GGP 0.789317
GHS 16.022948
GIP 0.789317
GMD 71.000379
GNF 8643.497226
GTQ 7.746432
GYD 209.748234
HKD 7.786475
HNL 25.330236
HRK 7.133259
HTG 131.85719
HUF 387.154498
IDR 15898.3
ILS 3.72799
IMP 0.789317
INR 84.47775
IQD 1313.925371
IRR 42092.499662
ISK 137.650046
JEP 0.789317
JMD 159.290693
JOD 0.709096
JPY 154.382984
KES 129.894268
KGS 86.499912
KHR 4051.965293
KMF 466.575013
KPW 899.999621
KRW 1395.924959
KWD 0.30754
KYD 0.835902
KZT 498.449576
LAK 22039.732587
LBP 89819.638708
LKR 293.025461
LRD 184.552653
LSL 18.247689
LTL 2.95274
LVL 0.60489
LYD 4.898772
MAD 9.999526
MDL 18.224835
MGA 4665.497131
MKD 58.423024
MMK 3247.960992
MNT 3397.999946
MOP 8.042767
MRU 40.039827
MUR 47.210138
MVR 15.45003
MWK 1739.225262
MXN 20.353475
MYR 4.470502
MZN 63.901748
NAD 18.247689
NGN 1665.819778
NIO 36.906737
NOK 11.093415
NPR 134.832867
NZD 1.704579
OMR 0.384524
PAB 1.002987
PEN 3.80769
PGK 4.033
PHP 58.731497
PKR 278.485894
PLN 4.10247
PYG 7826.086957
QAR 3.656441
RON 4.72391
RSD 110.944953
RUB 99.964122
RWF 1377.554407
SAR 3.756134
SBD 8.390419
SCR 13.839885
SDG 601.500271
SEK 10.98281
SGD 1.342055
SHP 0.789317
SLE 22.603065
SLL 20969.504736
SOS 573.230288
SRD 35.315501
STD 20697.981008
SVC 8.776255
SYP 2512.529858
SZL 18.240956
THB 34.786005
TJS 10.692144
TMT 3.51
TND 3.164478
TOP 2.342099
TRY 34.470335
TTD 6.810488
TWD 32.476799
TZS 2667.962638
UAH 41.429899
UGX 3681.191029
UYU 43.042056
UZS 12838.651558
VES 45.732111
VND 25390
VUV 118.722009
WST 2.791591
XAF 622.025509
XAG 0.032899
XAU 0.000389
XCD 2.70255
XDR 0.755583
XOF 622.025509
XPF 113.090892
YER 249.875006
ZAR 18.16622
ZMK 9001.200902
ZMW 27.537812
ZWL 321.999592
  • BCC

    -0.2600

    140.09

    -0.19%

  • SCS

    -0.0400

    13.23

    -0.3%

  • RBGPF

    61.8400

    61.84

    +100%

  • NGG

    0.3800

    62.75

    +0.61%

  • GSK

    -0.6509

    33.35

    -1.95%

  • CMSC

    0.0200

    24.57

    +0.08%

  • RYCEF

    0.0400

    6.82

    +0.59%

  • CMSD

    0.0822

    24.44

    +0.34%

  • AZN

    -1.8100

    63.23

    -2.86%

  • BCE

    -0.0200

    26.82

    -0.07%

  • JRI

    0.0235

    13.1

    +0.18%

  • RIO

    0.5500

    60.98

    +0.9%

  • RELX

    -1.5000

    44.45

    -3.37%

  • VOD

    0.0900

    8.77

    +1.03%

  • BTI

    0.9000

    36.39

    +2.47%

  • BP

    -0.0700

    28.98

    -0.24%

Energy crisis to dominate EU chief's annual speech
Energy crisis to dominate EU chief's annual speech / Photo: © AFP

Energy crisis to dominate EU chief's annual speech

Europe's fears of a long winter with scarce energy supplies because of Russia's war in Ukraine are expected to top an annual speech by EU chief Ursula von der Leyen on Wednesday.

Text size:

The "State of the European Union" address to the European Parliament is to focus on ways her European Commission can mitigate the looming crisis, which is being worsened by soaring inflation.

Among those listening to the speech will be Ukrainian First Lady Olena Zelenska, wife of President Volodymyr Zelensky, invited as von der Leyen's guest of honour.

"The courage of the Ukrainian people has touched and inspired the world. Europe will stand with you every step of the way," von der Leyen tweeted alongside photos of her and Zelenska in Strasbourg.

Energy measures mooted ahead of von der Leyen's speech were a price cap on imported Russian gas, emergency compensation for consumers, a levy on non-gas electricity producers and an appeal for European households and businesses to cut back on power use.

Some of the responses -- especially the idea of capping gas prices -- have become bogged down by differences between EU member states, which will likely result in a less ambitious package than von der Leyen had sought.

EU countries are also wary of giving the commission too much power over their national energy policies, even though those have already been swept up in a bloc-wide push towards renewables as part of a carbon-neutral future.

European politicians accuse Moscow of trying to extort the EU over energy, as Russia tries to hit back at Western sanctions that pose long-term risks to its economy.

In the nearer term, however, Europe is feeling the pinch as it goes about unhitching itself from a long dependency on Russian fossil fuels.

Russian gas imports now account for around nine percent of total gas imports, down from around 40 percent before the Ukraine invasion and ensuing sanctions.

Russian President Vladimir Putin said a week ago it was "impossible" to isolate Moscow and vowed to cut gas and oil deliveries to countries imposing a price cap.

Russian giant Gazprom has shut the Nord Stream gas pipeline that supplies Germany, Europe's export powerhouse.

Germany is "heading into a winter of recession", the Ifo institute, a think tank, said this week.

EU energy commissioner Kadri Simson told MEPs on Tuesday: "There is no magic wand to bring prices back to the pre-war levels. But with a targeted emergency package we can ease the pressure on prices and help citizens looking forward."

- Russian 'blackmail' -

Finnish Prime Minister Sanna Marin -- whose country is joining NATO because of Russia's invasion of Ukraine -- said that Putin was trying to "blackmail" Europe.

She urged EU partners to stand up to Moscow and to stick together, including by imposing more sanctions.

She added: "The winter will be difficult. We see high energy prices already creating political division. Inflation will test many European societies, but we really have no choice but to stay united."

The EU's top diplomat, Josep Borrell, told MEPs that European consumers were "going to have to adjust heating habits" in the months ahead.

"If that is the price we have to pay in order to attain and achieve our energy independence then we're doing so, we're on the path to it," he said.

To offset reduced gas supplies in winter, the EU has been stockpiling gas and has already filled its tanks to 82 percent capacity, exceeding a target originally set for October.

But in a sign of lingering unease, the Czech Republic, which holds the EU's rotating presidency, on Tuesday announced it was convening an extraordinary meeting of the bloc's energy ministers for September 30.

That meeting could also sign off on the proposals made by von der Leyen in her speech on Wednesday, some of which were to be negotiated further over the rest of this month.

S.Weaver--TFWP