Europe wants to cut imports of gas from Russia by two-thirds within a year. How will the continent cope next winter?
Save time by listening to our audio articles as you multitaskEnergy prices, whether of petrol, gas or electricity, have rocketed in Europe. Some people might barely have noticed. In France, the authorities have essentially capped electricity and gas bills. Italy on March 18th added €4.4bn in subsidies to limit power-price rises for companies and consumers, on top of the €16bn already agreed in recent months. Several countries have cut petrol duties, a much-needed source of tax income.
Why is Europe not rediscovering the spirit of the 1970s? Back then the European public was expected to accept some discomfort and inconvenience. Speed limits went from the exception to the norm . Dutch and German cities were among those that went pedestrian one day a week. France decreed public buildings should be no warmer than 20°C, two degrees lower than today’s European average. Television broadcasting was shut off at 11pm, an idea that could usefully be revived for social media.
Second, energy is a politically toxic topic. The mere mention of speed limits or dearer petrol triggers accusations of urban politicians ignoring the plight of car-dependent provincial folk. Spanish farmers are protesting about energy prices. France’s president, Emmanuel Macron, wants no moreprotests ahead of an election next month. Europe is on a glide path to “net zero” emissions, to which the Ukraine crisis has given fresh impetus.
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