Energy Crisis

Russia's Gazprom said it will pump a reduced volume of gas to Europe via Ukraine on Tuesday (December 31), the last day before the expiry of a deal that had kept the gas flowing throughout nearly three years of war. Gazprom said it would send only 37.2 million cubic meters on Tuesday compared to 42.4 mcm on Monday. Flows are expected to fall to zero from the early hours of Jan. 1 after the expiry of the five-year transit agreement. Its demise marks the almost complete loss of Moscow's once mighty hold over the European gas market. Ukraine refused to negotiate a new deal because of the war. The halting of supplies via Ukraine will be a major blow to Moldova, a country that was once part of the Soviet Union. Among European Union countries, Slovakia will be the most affected. Hungary will continue to receive Russian gas from the south, via the TurkStream pipeline on the bed of the Black Sea, although it had been keen to keep the Ukrainian route as well. Watch here for more details-

India Budget — How to navigate the energy crisis

EY India lists the possible Budget measures that could hasten energy transition in India 

Is Egypt ready for its next energy crisis? 

Egypt’s special talent is in announcing bold megaprojects with the nation-building potential of the Suez canal, El Dabaa nuclear plant, or its new capital city outside Cairo, and then frittering the opportunity away amid counterproductive regulations, corruption and cash shortages. Paradoxically, what Egypt and the planet might need this time around is a bit less ambition

Karnataka industries fume over frequent power cuts; seek proper supply

The state energy department attributed the power crisis to high demand and deficient monsoon rainfall

The EU learns some hard energy lessons

While the EU will make disapproving noises about Indian refiners buying Russian oil and exporting the refined products to EU, it is unlikely to do anything more, simply because it benefits from the arrangement

A state-owned power utility's failure forced South Africa to let its market work. For India, a lesson 

As South Africa’s power system has descended deeper and deeper into crisis, some of the rules that had served to stymie renewables have been gradually abandoned and the private sector progressively allowed to take over

Energy Security: India set to depend on Russia

India recognised that there is excess reliance on oil and gas supplies from OPEC countries in West Asia. Given the political volatility in that entire region, the needs of energy security dictate that the Indian crude basket should have a wider spread

I2U2 meeting discusses investment opportunities to address energy crisis, food insecurity

The UAE hosted the first vice-ministerial meeting of the I2U2 in Abu Dhabi which was attended by senior officials from the four countries, along with representations from the private sector.

Ukraine war | Europe's spend on energy crisis nears $850 billion as Russia cuts gas supply

European countries' bill to shield households and companies from soaring energy costs has climbed to nearly $850 billion, according to a report by Brussels-based think tank Bruegel. The cut-off in gas supply from Russia is hurting the European nations. Watch the video to find which European country is hit by the supply shortage the most

Ukrainians to get millions of LED light bulbs to ease energy shortfall

The goal is in the next few months to reduce by a quarter the energy deficit caused by Russian missile and drone strikes on power infrastructure that have frequently left millions of Ukrainians without light, water or heating.

Energy crisis driving inflation, slowing GDP growth, creating social turmoil: WEF study

The World Economic Forum (WEF) report, released days before its annual meeting in Davos, said the world is in the grip of an unprecedented global energy crisis but short-term fixes will lead to a bleak future.

The Warren Buffett way to profit from the energy crisis

The Oracle of Omaha struck a gusher with his stakes in Japan’s major trading houses

How the energy crisis in Europe is affecting coal

The turning off of Russian gas taps has sent Europe into the arms of coal. Since Europe’s energy shortage looks likely to extend into 2024, higher demand for coal could see prices soar

EU considers lower gas price cap in hunt for Monday deal

Despite months of negotiation and two emergency ministerial meetings over the EU's proposal for a cap, countries have not reached agreement over it and are at odds over whether it could ease or in fact worsen Europe's energy crisis.

War next door brings energy crunch, and paid protests, to Moldova

Starved of natural gas from Russia and electricity from Ukraine’s missile-battered power grid, Moldova has been so unsettled by skyrocketing utility bills and occasional blackouts that, according to the mayor of a small city in the north, residents can barely contain their anger.

LIVE | Tata Power MD & CEO Praveer Sinha On Energy Crisis Impact, Renewable Energy & Divestment Plans

Tata Power MD & CEO Praveer Sinha talks exclusively to Moneycontrol about how the power sector can be financially viable, whether the cost of power will stabilise in the long run and how India can make renewable energy more robust so as to avoid the impact of global changes. He also speaks about the company's divestment plans - watch!

With war in Europe, world encounters food, energy crisis: RBI Governor Shaktikanta Das

Delivering the inaugural address at the annual research conference of the Department of Economic and Policy Research of RBI, Das said the COVID-19 pandemic crisis created an opportunity to explore and harness the power of big data and strengthen direct feedback mechanisms while working from home.

As Europe quits Russian gas, half of France’s nuclear plants are offline

The Russia Ukraine crisis is upending the role that France has long played as Europe’s biggest producer of nuclear energy, raising questions about how much its nuclear power arsenal will be able to help bridge the continent’s looming crunch

Nifty100 ESG underperforms Nifty so far this year

Analysts say the underperformance of the Nifty100 ESG index is due to poor returns on IT stocks like Tata Consultancy Services, Infosys, HCL Technologies and Wipro and financial heavyweights including the HDFC twins and Kotak Mahindra Bank

70 million people may not be able to afford electricity; 100 million may give up cooking with clean fuels, warns IEA

In the transition to cleaner energy, ensuring affordability for poor households will be critical to gaining widespread public acceptance and avoiding a social backlash

Russia-Ukraine crisis may turn global energy landscape to green power: IEA

'Energy markets and policies have changed as a result of Russia's invasion of Ukraine, not just for the time being, but for decades to come,' said IEA executive director Fatih Birol

Will the energy crisis crush European industry?

While companies are digging in for a long winter, executives and politicians fear a wave of deindustrialisation

Energy crisis makes 'dirtiest fuel' the dearest shelter ahead of green summit

India has committed to go net-zero by 2070. But as a country that still derives the majority of its electricity from coal, it has been clear that while renewable energy capacity growth will be high, coal based plants will still play an important role

France starts exporting gas to Germany amid energy crisis

The amount expected to eventually increase to a daily maximum of 100 gigawatt-hours, representing less than 2% of Germany’s overall gas consumption, according to figures from the French Ministry for Energy Transition.

EU leaders struggle to bridge gas price cap divide

A group of 15 member countries has urged the EU's executive branch, the European Commission, to propose a cap on gas prices as soon as possible, but the idea has not secured unanimous support, with Germany notably blocking.