France Working on Plan to Cut Energy Use by 10% Over Two Years
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The French government is working on a plan to cut the nation’s energy consumption by 10% over two years as reduced gas flows from Russia heighten concern over Europe’s security of supply.
The gas crunch, which has been exacerbated by Moscow’s invasion of Ukraine, has sent power prices to record highs and plunged Europe into an energy crisis. Germany warned on Thursday that Russia’s reduction in flows to Europe risked sparking a collapse in fuel markets, drawing a parallel to the role of the Lehman brothers in triggering the 2008 financial crisis.