Natural gas prices in Europe were back on the rise Thursday following a forecast for colder temperatures. That’s likely to put new pressure on the EU to speed up plans to tap into energy revenues and tax profits. Commission President Ursula von der Leyen proposed yesterday that EU members cap the revenues for some electricity-generators and tax profits for fossil-fuel companies. The two measures would seek to raise 140 billion euros.
That money could then be used to offset higher energy costs faced by consumers. It’s been a hot, dry summer across Europe, and that’s cut into energy-production across the continent. Even Norway, whose rich energy deposits make it a key supplier for other countries, now faces a growing problem. The country is a major energy supplier for Europe. But due to dry conditions there, the country’s production is under threat. This has other nations worried after already losing deliveries from Russia and scrambling to find new sources.
DW News
