National Post (Latest Edition)

EU WORRIES ABOUT POTENTIAL WINTER HEATING FUEL CRISIS

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Soaring energy prices caused alarm among European leaders and sent shivers through global markets on Wednesday, raising concerns of a winter fuel crisis that could play into the hands of natural gas-rich Russia. With consumers facing a huge jump in winter fuel bills, energy prices topped the European Union’s political agenda on Wednesday. “I think we have to be very clear that the gas prices are skyrocketi­ng,” EU Commission president Ursula von der Leyen said, calling for a renewed focus on renewables. The EU, which imports 90 per cent of its gas, notes Russia had not followed the lead of its other main supplier, Norway, in stepping up supplies, von der Leyen, shown, said on Tuesday. Russian President Vladimir Putin said Wednesday Russia was boosting natural gas supplies to Europe and stood ready to stabilize the market.

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