Energy crisis: UK could learn from Fukushima response, MPs told

Japanese measures including turning down the heating and slower trains could ease pressure on British households, say experts

Britain could learn from Japan’s response to the Fukushima nuclear plant disaster by reducing energy consumption to deal with soaring global gas prices after the Russian invasion of Ukraine, academics have said.

Suggesting a coordinated response to record gas prices could help ease the pressure on households, experts told MPs on the Commons business committee that steps to reduce national demand for gas-fired power next winter could be deployed.

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Foreigners travelling to Ukraine to fight invasion will be given citizenship – as it happened

This blog is now closed. Follow our live coverage of the Russian invasion here.

Stoock markets have been struggling again today with no sign of any let up in the adverse economic impact of the war.

Brent crude is on the rise again – up 2.48% to $126.26 – after see-sawing violently yesterday when it touched almost $140.

Griffiths urged all sides to ensure that civilians, homes and infrastructure in Ukraine were safeguarded.

“This includes allowing safe passage for civilians to leave areas of active hostilities on a voluntary basis, in the direction they choose,” he said, after Ukraine rejected an earlier deal that would only allow its civilians to evacuate into Russia or Belarus.

The meeting came as Ukraine and Russia seek an agreement on creating “humanitarian corridors” out of pummelled cities, as the civilian toll from the Russian assault mounts.

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Russia threatens Europe’s gas supplies as west mulls oil import ban over Ukraine invasion

Deputy prime minister raises prospect of closing Nord Stream 1 gas pipeline to Germany, and says rejecting Russian oil would be ‘catastrophic’ for world

Moscow has stoked fears of an energy war by threatening to close a major gas pipeline to Germany after the US pushed its European allies to consider banning Russian oil imports over its invasion of Ukraine.

In an address on Russian state television, Russian deputy prime minister Alexander Novak said: “A rejection of Russian oil would lead to catastrophic consequences for the global market”, and claimed the price of oil could rise to more than US$300 a barrel.

Ukrainian intelligence claimed that a Russian general has died in fighting around Kharkiv, the second such officer killed in a week. It broadcast what it said was a conversation between Russian FSB officers discussing the death of Maj Gen Vitaly Gerasimov, and complaining that their secure communications no longer functioned inside Ukraine.

Ukraine’s president, Volodymyr Zelenskiy, rallied the nation in a fresh late-night video address, saying that “heroic” resistance was making the war “like a nightmare” for Russia. Taking viewers on a tour of his quarters in Kyiv, he promised to stay in the capital until the war was won.

Several children were killed by Russian bombing in Sumy, according to the region’s military administration chief.

The humanitarian crisis continued to deepen, with 1.7 million Ukrainians thought to have fled the fighting, with the potential for the total to reach 5 million, the EU said. The UN human rights office has reported 406 confirmed civilian deaths but said the number was a vast undercount.

Zelenskiy is to address UK MPs on Tuesday via video link and is expected to plead for more arms and a no-fly zone over Ukraine to be enforced by Nato.

Dmytro Kuleba, Ukraine’s foreign minister, claimed the prospects of the country joining the EU had greatly increased, according to Ukraine’s Unian website. The distance to EU membership had been as far away as the moon last week, but was now only from Kyiv to the city of Vinnitsa – a distance of just 262km or 162 miles, he said.

Fresh talks between Ukraine and Russia are expected, after a third round ended without agreement on the evacuation of civilians via humanitarian corridors, although a Ukrainian negotiator said small progress had been made. The French president, Emmanuel Macron, accused Vladimir Putin of “moral and political cynicism” and hypocrisy for making promises to protect civilians so they could flee only to Russia.

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Europe must be more independent and shore up its defence, says Macron

In TV address French president warns tough economic times are ahead following Ukraine invasion

Emmanuel Macron has warned that Europe must become more independent for its own defence and to ensure energy supplies after Russia’s invasion of Ukraine.

The French president said the conflict had “changed the era” across the continent and that he would be calling a summit of European leaders next week to discuss how to address the “unprecedented challenge” it created.

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London Stock Exchange suspends trading in 27 firms with strong links to Russia

Energy and banking giants Gazprom and Sberbank plus EN+, Lukoil and Polyus among firms

The London Stock Exchange has suspended trading in 27 companies with strong links to Russia, including energy and banking giants Gazprom and Sberbank.

The LSE said it was moving to block trading in the companies, which also include EN+, Lukoil and Polyus, with immediate effect “in light of market conditions, and in order to maintain orderly markets”.

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If you want to hit Russian economy hard, aim for energy export

Sanctions debate rapidly heading towards energy sanctions in Ukraine-Russia crisis

At the start of Russia’s invasion of Ukraine a week ago, almost every analyst agreed that Russian oil and gas would keep flowing westwards. The state of mutual energy dependence seemed too entrenched. On one side, the EU could not decouple itself easily from the source of 38% of its natural gas imports. On the other, Russia under financial sanctions would need cash. Old hands reflected that, even in the long decades of the cold war, the Soviet Union and Europe maintained commercial relationships in energy.

A week later, such thinking looks naive. The “shock and awe” financial sanctions, especially those aimed at Russia’s central bank, exceed anything previously seen, but the shortcoming is obvious: if you really want to hit the Russian economy hard, the place to aim is its energy export sector, a part that has been spared sanctions so far and generates hundreds of millions of dollars daily. The point is made repeatedly by Ukrainian officials in their appeals for the trade to cease, and its moral force is hammered home with every fresh Russian atrocity.

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Shell to exit joint ventures with Gazprom and pull out of Nord Stream 2

Decisive move to end tie-up with Russian state gas firm follows BP pledge to sell its 20% Rosneft stake

Shell is to exit its joint ventures with Russian state energy firm Gazprom, a day after BP said it would offload its 20% stake in Kremlin-owned oil firm Rosneft, as British businesses scrambled to distance themselves from Vladimir Putin.

The oil company said it would “exit its joint ventures with Gazprom and related entities”, which are worth about $3bn.

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How can Europe wean itself off Russian gas?

Analysis: whether tapping other suppliers or switching energy sources, there is no quick and easy option to loosen Putin’s economic grip

As Boris Johnson told parliament that Europe must wean itself off Russian gas – to loosen Vladimir Putin’s “grip on western politics” – the Nikolay Zubov tanker was making its way back from British waters to the port of Sabetta, in northern Siberia.

The 300m-long vessel had recently dropped off a consignment of liquefied natural gas (LNG) at the Isle of Grain terminal, in the Thames Estuary, operated by the National Grid.

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Energy prices surge as Russian invasion of Ukraine stokes fears of global shortages

European stock markets tumble as crisis fuels near-40% rise in gas price and pushes oil to $105 per barrel

Global markets were thrown into turmoil on Thursday as the arrival of war on European soil sent prices of commodities such as oil, gas and wheat surging, while stock market plunged.

The ramifications of a potentially prolonged conflict involving Europe’s primary supplier of gas sent a chill through markets, affecting prices across a phalanx of asset classes and investments.

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Storm Eunice: tens of thousands still without power in UK

Widespread disruption to services continuing in aftermath of worst storm in 32 years that has led to at least four deaths

Tens of thousands were still without power and travel continued to be disrupted on Saturday as the cleanup effort after record-breaking deadly Storm Eunice threatened to be hampered by more weather warnings.

Friday’s storm brought record-breaking winds to the UK and Ireland, and killed at least four, leaving a trail of damage and destruction in its wake.

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Florence asks residents to pay utility bills of struggling pensioners

Social impact of Italy’s 50% energy price rise is evident in city where 27.6% of the population is over 65

Florence residents are being asked to pay the utility bills of elderly people living alone and struggling to make ends meet as the city’s leaders seek to shield the most vulnerable from soaring energy costs.

The “adopt a bill” initiative begins in the next few days and comes as the social implications of a more than 50% hike in gas and electricity bills in Italy this winter start to manifest.

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Northern Powergrid accidentally sends out compensation cheques for trillions of pounds

Energy meter numbers were used instead of amount payable in 74 Storm Arwen compensation cheques

An energy company has thanked “honest” customers who did not try to cash compensation cheques for trillions of pounds sent out in error.

Compensation is being paid to tens of thousands of people who were left without power when severe “once in a generation” winds swept across the UK in November last year during Storm Arwen.

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The rise in global inflation – the hit to living standards across the world

Analysis: From Pakistan to the US, Australia to Germany, the cost of living is rising to new highs and causing new hardships

After decades lurking in the shadows, inflation is back. On Amazon, you can find fridge magnets printed with words spoken 40 years ago by Ronald Reagan, before the election that swept him into the White House.

“Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.”

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As UK households feel pressure, how are other European countries tackling energy crisis?

Many European countries are a step ahead of the British government, which has yet to announce plans to help homes facing annual bills of almost £2,000

In the next week Great Britain’s energy regulator will announce the steepest rise ever in its energy price cap, effectively saddling millions of households with an annual energy bill of close to £2,000.

The blow to household finances follows almost six months of record high energy market prices because of the global gas crisis. Despite the deepening gloom facing bill payers, ministers are yet to agree a package of measures to prevent a national energy crisis.

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Qatar in talks to supply gas to Europe if Russia cuts supplies

Emir expected to tell US president Qatar can provide short-term emergency liquid gas to help replace any loss of supplies

The emir of Qatar, Sheikh Tamim bin Hamad al-Thani, is expected to tell the US president, Joe Biden, that his country will provide some short-term emergency liquid gas to help replace any shortages if Russia cuts off supplies to Germany.

Qatar is looking to supply Europe through transferring excess gas in storage in east Asia. It is also hoping to return to the European market on a bigger scale as its own production levels rise, but wants to see an end to a European Commission anti-trust investigation.

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China’s coal production hit record levels in 2021

In blow to climate campaigners, state encourages miners to ramp up output to avert winter gas crisis

China’s coal production reached record levels last year as the state encouraged miners to ramp up their fossil fuel output to safeguard the country’s energy supplies through the winter gas crisis.

The world’s biggest coal producer and consumer mined 384.67m tonnes of the fossil fuel last month, easily topping its previous record of 370.84m tonnes set in November, after the government called for miners to work at maximum capacity to help fuel the country’s economic growth.

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Global surge in electricity use could bring three more years of price rises

International Energy Agency says pollution from power generation will worsen until alternatives are found

The global surge in demand for energy could spark another three years of market volatility and record power plant pollution unless countries make major changes to how they generate electricity, the world’s energy watchdog has warned.

The International Energy Agency recorded the steepest ever increase in electricity demand last year, which triggered blackouts in major economies and led to historic energy price highs and record emissions.

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Fury as EU moves ahead with plans to label gas and nuclear as ‘green’

Brussels faces backlash and charges of greenwashing after publishing draft proposals on New Year’s Eve

The European Commission is facing a furious backlash over plans to allow gas and nuclear to be labelled as “green” investments, as Germany’s economy minister led the charge against “greenwashing”.

The EU executive was accused of trying to bury the proposals by releasing long-delayed technical rules on its green investment guidebook to diplomats on New Year’s Eve, hours before a deadline expired.

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EU in row over inclusion of gas and nuclear in sustainability guidance

Activists including Greta Thunberg criticise ‘fake climate action’ in response to planned investment taxonomy

The European Commission is facing a backlash from Greta Thunberg and fellow climate activists over plans to include gas and nuclear energy in a “green” investment guidebook.

Both energy sources are expected to feature in the next part of the EU’s “taxonomy for sustainable activities”, which is expected at the end of the year, following a period of intense political bargaining between the commission president, Ursula von der Leyen; the French president, Emmanuel Macron; and Germany’s new chancellor, Olaf Scholz.

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Gas crisis fuels call for UK to update energy security policy

As rising tensions with Russia over Ukraine drive prices to record highs, experts warn of lack of strategy for gas supply

Ministers are relying on an outdated energy security policy, leading academics have warned, as escalating tensions between Russia and western leaders propelled the gas market to record price highs.

UK gas reached a record closing price of 322.5 pence per therm on Tuesday, according to data from market price experts at ICIS, vaulting ahead of the previous high of just over 298p/therm set in early October this year.

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