An emergency intervention in European power markets may lower prices but won’t protect the region’s economy from spillover effects of a historic energy crunch, according to the bloc’s executive arm.
The 27-nation European Union is devising measures to curb electricity costs as Russia crimps shipments of natural gas needed to fuel generation plants just weeks before the heating season commences. The European Commission is considering a package of measures including a power-demand reduction and price caps on renewables, nuclear and coal, according to a policy note seen by Bloomberg News on Thursday.
