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A Wave of Energy Nationalizations Is Starting

relates to A Wave of Energy Nationalizations Is Starting

Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.

The energy crisis spurred by Russia’s invasion of Ukraine is triggering a wave of nationalizations in a bid to keep the lights on next winter. The French government will take full control of its financially-struggling nuclear giant EDF, while Germany rushes through legislation this week to rescue its own energy companies, like Uniper. The EU is set to announce its plan later this month for coordinated efforts to reduce gas demand, boost energy savings and better prepare for a complete halt in shipments from Russia. That will then be debated at an emergency meeting of energy ministers six days later, setting the stage for a summer of frantically filling up the region’s gas storage before the cold sets in.