European Union energy ministers agreed to a watered-down version of a Commission proposal to reduce gas consumption across the block by 15 percent starting August and ending next March. Some EU members would be allowed a lower rate of consumption cuts as they prepare for lower Russian gas flows, Reuters reported. The agreement comes after days of intense discussions, after the European Commission proposed last week a 15-percent voluntary consumption cut, to be made mandatory in case of a gas supply emergency. A dozen EU members, including Spain,…
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