EU prepares for possible power cuts and other emergencies as energy crisis intensifies -RND

Reuters
·1 min read
FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels

BERLIN (Reuters) - The European Commission is preparing for power cuts and other emergencies within the European Union, media group RND reported, citing a senior EU official, amid concerns over the conflict in Ukraine and a possible energy crisis within the bloc.

Falling Russian fossil-fuel exports to the bloc have pushed several EU states to put into effect emergency plans that may lead to rationing as they race to find alternative supplies.

The EU is preparing for two scenarios. In the first scenario, only a small number of member states are affected by an incident such as a blackout and other EU states can supply power to the affected members, EU crisis management commissioner Janez Lenarcic was quoted as saying by RND on Tuesday.

But if a large number of states are hit at the same time, the bloc's countries would have to cap their emergency aid deliveries to other members and the Commission could cover the needs through its strategic reserve, Lenarcic added.

"It is quite possible that disaster relief will also be needed within the EU," Lenarcic said.

In April, following Russia's invasion of Ukraine, the Commission said it had begun a stockpiling operation to boost its defences against chemical, nuclear and biological incidents.

(Reporting by Riham Alkousaa; editing by Jonathan Oatis)

  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • Q1 2024 Maxlinear Inc Earnings Call

    Q1 2024 Maxlinear Inc Earnings Call

  • US SEC expected to deny spot ether ETFs next month, industry sources say

    U.S. issuers and other firms expect the Securities and Exchange Commission to deny their applications to launch exchange-traded funds (ETFs) tied to the price of ether after discouraging meetings with the agency in recent weeks, four people said. VanEck, ARK Investment Management and seven other issuers have filed with the SEC to list ETFs that would track the spot price of the world's second-largest cryptocurrency after bitcoin. The SEC must decide on VanEck's and ARK's filings, which are first in line, by May 23 and May 24 respectively.

  • Mexican cement maker Cemex's Q1 profit climbs despite dip in volumes

    Mexican cement-maker Cemex reported a 13% increase in first-quarter net profit on Thursday, bolstered by lower taxes and less exposure to financial derivatives, although its operating earnings declined. The firm, one of the world's largest cement producers, posted a net profit of $254.4 million, beating analysts' estimate of $218.2 million as per LSEG data. Revenue inched up 3% year-over-year to $4.14 billion, just shy of analysts' estimate of $4.19 billion, despite volumes falling in all of its product segments.

  • Q1 2024 SEI Investments Co Earnings Call

    Q1 2024 SEI Investments Co Earnings Call

  • UPDATE 1-Chemicals maker Dow beats quarterly profit estimates

    Chemicals maker Dow beat first-quarter profit estimates on Thursday, helped by higher sales volumes as global manufacturing activity shows signs of growth. China's manufacturing activity expanded for the first time in six months in March while U.S. manufacturing grew for the first time in about 18 months, benefiting Dow whose products are used in a range of industries.

  • Futures falter as Meta Platforms weighs on megacaps

    Meta plunged 12.9% in premarket trading after the Facebook-parent forecast higher expenses and lighter-than-expected revenue and raising fears the surging cost of AI is outpacing its benefits. Shares of some other growth stocks also fell, with Alphabet, Amazon.com and Microsoft down between 1.5% and 2.7%.

  • Fourth person arrested after five migrants die in Channel boat crossing tragedy

    An 18-year-old from Sudan has been arrested while a 19-year-old man was released without charge over the incident.

  • Yousaf hails ‘new beginning’ after terminating powersharing deal with Greens

    The Scottish First Minister has called time on the Bute House Agreement.

  • 42 new-in M&S summer dresses we predict will sell out first

    Whether you're planning a wedding guest outfit or your summer holiday looks, these are the dresses you should know about from Marks & Spencer.

  • Q1 2024 Prosperity Bancshares Inc Earnings Call

    Q1 2024 Prosperity Bancshares Inc Earnings Call

  • Explainer-How Trump's immunity claim stalled 2020 election subversion case

    The U.S. Supreme Court hears arguments on Thursday on Donald Trump’s claim that he enjoys sweeping immunity from criminal prosecution for actions he took as president, a claim that has delayed by months a case accusing him of trying to overturn his 2020 defeat. The federal case brought by Special Counsel Jack Smith charging Trump with trying to overturn his election defeat -- one of four criminal cases the Republican presidential candidate faces -- has been paused since December while the immunity argument plays out. Criminal defendants are not usually able to appeal court rulings until after a trial if they are convicted, but Trump was able to file an immediate appeal because the immunity argument bears on whether he must even face a trial.

  • SNP's power-sharing deal with the Scottish Greens collapses

    It follows the government's decision to scrap key climate targets and its response to a review into gender services.

  • US STOCKS-Futures falter as Meta Platforms weighs on megacaps

    U.S. stock index futures fell on Thursday, as shares of most megacap growth stocks took a beating after dour quarterly results from Meta Platforms, ahead of more economic data in the week that could influence the Federal Reserve's monetary policy. Meta plunged 12.9% in premarket trading after the Facebook-parent forecast higher expenses and lighter-than-expected revenue and raising fears the surging cost of AI is outpacing its benefits.

  • Explainer-Where are Wall Street's analyst notes on Trump's Truth Social?

    Trump Media & Technology Group is one of the most actively traded U.S. stocks, yet Wall Street's equity analysts are staying clear. Shares of the company that operates former U.S. President Donald Trump's social media app Truth Social listed on Nasdaq on March 26. An army of Trump supporters and speculators have snapped up the stock, giving it a market value of about $4.9 billion.

  • Organ donors give hope and life to others. Kansas City, here’s how you can help | Opinion

    Last year, Midwest Transplant Network helped 488 kidneys, 218 livers, 107 hearts, 148 lungs, 22 pancreases and five intestines find their way to recipients in need.

  • Princess Beatrice 'heartbroken' by suspected drug death of ex-boyfriend Paolo Liuzzo

    Beatrice was just 17 when she started dating Paolo Liuzzo in 2005

  • Steelmaker Acerinox cautious on second quarter as strike drags on

    Spanish steelmaker Acerinox said on Thursday it expects earnings before interest, taxes, depreciation and amortization (EBITDA) to improve only slightly in the second quarter due to the weak European market and the prolonged strike at its Spanish mill. The company said that there is no guarantee that the labour dispute at its Spanish steel mill Cadiz will be resolved in the short term. "The European market continues to be weak and has not experienced the expected recovery...even with the reduction in supply," the company said.

  • Therese Coffey Gets Brutal Reality Check From Polling Expert About Tory Election Chances

    The Tory backbencher's attempt to find a glimmer of optimism about her party was quickly crushed last night.

  • Meet Britain’s biggest aircraft – that flies at the speed of a bicycle

    In a vast Farnborough hangar, the wings of the largest aircraft made in Britain recede into the far distance.

  • He replaced Mickey Mantle. Now baseball's oldest living major leaguer, Art Schallock, is turning 100

    SAN FRANCISCO (AP) — Whether at home or on the road, Art Schallock would begin each day by taking the elevator down to the lobby and collecting the latest comic books for roommate Yogi Berra. “Every morning,” Schallock recalled, chuckling at the thought decades later. Schallock never minded. It was all worth it. Just part of being the new guy back in the day, a rite of passage for the latest big leaguer getting promoted. Schallock got the call in 1951, replacing future Hall of Famer Mickey Mantl