On 20 July, the European Commission presented a package containing a European plan to reduce gas demand. The eurozone is proposing to cut 15% of its countries’ gas consumption by March. Pedro Sánchez, for his part, has already announced that he will reject the proposal.
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The energy ministers of the 28 will meet this Tuesday to tackling the energy supply crisis in the European Unionand discuss the new measures to be taken for the coming winter.
In this context, the European Commission presented the package on 20 July “Saving gas for a safe winter”which includes a European plan to reduce demand for gas, in which the Commission proposes voluntary cuts in gas consumption by 15% until March.
Ministers will discuss the initiatives presented at the meeting and inform themselves about the current situation of energy security in their respective countries.
Pedro Sánchez, for his part, already announced this Saturday that he will reject the EU’s proposal to reduce gas consumption, adding that the Spanish state already shares gas with France and Portugal.
Similarly, Teresa Ribera, the third vice president and minister of Ecological Transition, announced in statements to EITB Media this Sunday that Spain will have to share its energy reserves over the coming fall and winter. This Monday, Spain recorded lower prices than in Europe on the gas market for the first time.
The war in Ukraine and the ensuing energy crisis and rising prices have also forced the EU to make decisions about the economic situation in the eurozone. After the 50 basis point increase, the President of the European Central Bank has stated that interest rates will rise as much as it takes for inflation to return to its set target of 2%.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
