According to Karin Kneissl, “some unfathomable ideas” govern how the European energy market operates.
According to former Austrian foreign minister Karin Kneissl, the crisis afflicting the electric power sector across the EU began in 2021 and was initiated by European officials themselves.
In an interview with the Russian news agency TASS on Saturday, she said that “we had a catastrophe in the electric power industry long before the gas crisis occurred.”
We have been going through this since April 2021, or for more than a year at this point, said Kneissl. “That’s the result of the liberalisation of the past 15 to 18 years.”
The former foreign minister claimed that the European electricity market no longer operates on the traditional supply-and-demand model but rather on “some unintelligible ideas.”
According to Karin Kneissl, “some unfathomable ideas” govern how the European energy market operates.
According to former Austrian foreign minister Karin Kneissl, the crisis afflicting the electric power sector across the EU began in 2021 and was initiated by European officials themselves.
In an interview with the Russian news agency TASS on Saturday, she said that “we had a catastrophe in the electric power industry long before the gas crisis occurred.”
We have been going through this since April 2021, or for more than a year at this point, said Kneissl. “That’s the result of the liberalisation of the past 15 to 18 years.”
The former foreign minister claimed that the European electricity market no longer operates on the traditional supply-and-demand model but rather on “some unintelligible ideas.”
The former minister of liberalizationliberalizationemphasized that after April 2021, electricity rates in the area increased by up to 40% and have since risen by about 400%, unavoidably straining household budgets.
“The situation is worse for manufacturers and the industrial sector. People are simply boycotting their electricity bills in the UK, where there is already a movement that isn’t part of the EU but might grow, she added, noting that the electricity crisis started before the gas shortage.
Kneissl explained that the problem was caused by a sharp decline in investment in oil and gas projects because supply was falling while demand was holding steady.
“Since the pandemic, the demand has been increasing. For a year following the outbreak, there was relative peace.
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