EU urges member states to cut energy use

The European Commission has called on member states to take action to reduce gas and electricity consumption in order to curb the rising prices resulting from declining global supplies and market fluctuations. This was stated in a message from EU Energy Commissioner, Kadri Simson, who emphasized the need for the implementation of specific and temporary measures to reduce demand. She warned that ill-considered measures could potentially increase demand instead of lowering it. With gas storage levels at around 68% of capacity—lower than in 2021—and recent flexibility allowing for a reduction in the storage target to 80%, Europe is seeking to avoid heavy purchasing and further price increases as it prepares for the winter season. This comes amid challenges in securing supplies and volatile markets.

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