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Shell CEO says Europe May Need to Ration Energy This Winter

Shell CEO Ben van Beurden has said Europe may be forced to ration energy this winter, predicting further price increases.

The Wall Street Journal reported van Beurden as saying, “Maybe some countries will fare better than others, but I think we will all be facing very significantly escalating pricing, so there will be a lot of pressure on industry and therefore there will be a lot of pressure on the economy”.

“In the worst case, we will be in a situation where we have to ration.” he said.

As the energy crisis intensifies around Europe some countries are resorting to almost wartime like curfews and regulations to bridge the gap between supply and demand.

Italy’s government led by former President of the European Bank, Mario Draghi, has introduced a number of measures including; directions that home temperatures should be reduced by two degrees.

Open reports other measures include; dimming street lamps and lamps in museums by 40%.

It has also been advised that heating in public offices should be capped at 19 degrees this winter, and that energy gas and electricity supplies to ‘non essential’ businesses be reduced.

Private premises such as bars and clubs should close their doors by 11pm, and shops will be required to close at 7pm.

The Italian government believes they can cut energy usage by 20% if these guidelines are adhered to.

These restrictions are reportedly phase 2 of  ‘energy emergency’ measures.

The measures also dictate that in Summer home air conditioning shouldn’t be lower than 27 degrees.

Last week the Financial Times reported, “Germany is rationing hot water, dimming its street lights and shutting down swimming pools as the impact of its energy crunch begins to spread from industry to offices, leisure centres and homes”. Head of the Federation of German Housing Enterprises GdW,  Axel Gedaschko said “The situation is more than dramatic,” adding, “Germany’s social peace is in great danger.”

Germany has resorted to coal to try and cut its huge dependency on Russian energy supplies which have been significantly reduced since the start of the Russia-Ukraine conflict.

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