EU plans to mandate a 5% reduction in peak hour energy demand will be a real test of resolve. Power generation technologies with lower generation costs than natural gas – including renewables, nuclear, and lignite – would get their revenues capped. A staggering $117 billion in energy revenues would be redistributed under the EU plan. 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 […]

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