The Single Largest Energy Market Intervention In EU History ...Middle East

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The Single Largest Energy Market Intervention In EU History
source : OILPRICE ( Middle East ) () 20
The EU Commission on 14 September proposed a plan that would pull in €142 billion in windfall profits earned by power and fossil fuel companies and redistribute it to hard-pressed consumers who have seen their power costs multiply in recent months. At the same time, the European Union aims to cut power use through a mandatory 5% reduction in peak-hour demand. The overall target is a 10% cut in total electricity demand until 31 March 2023. In Rystad Energy’s view, these temporary measures should go a long way in helping the EU’s…

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