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A winter of power outages is coming across Europe - warns USA investment bank Goldman Sachs.
USA investment bank Goldman Sachs warns in a current report of possible widespread power outages across Europe in the coming winter, with hundreds of thousands of families facing a difficult winter. Here are some thoughts on this:
* There is a huge increase in the price of electricity and natural gas around the world. Dermot Nolan, former chief executive of Ofgem (the British electricity regulator) told Bloomberg that "It's going to be expensive for consumers, it's going to be expensive for big energy consumers. Electricity and gas prices are going to be higher than everyone would like and they're going to be higher than they've been in about 12 years."
* Energy price rises are having an impact on the rest of Europe too: inflation is galloping. At the same time, the so-called "climate saviours" are acting as if they were putting gas on the fire. People will spend not just a few euros, but several hundred euros on the environment/climate change.
* European governments fear they will literally run out of electricity as the number of electric vehicles grows.
* Meanwhile, there are other concerns in the UK: 100,000 lorry drivers are missing to supply petrol stations and grocery stores. Plus, after Brexit, a large number of foreign workers have been expelled from the country.
* But it's not just Britons who fear they will literally run out of electricity, given the growing number of electric vehicles. The German government seems to see this danger for Germany as well. In early 2021, it prepared a bill that anyone who wants to "refuel" their electric car at a home charging station will be left without electricity during peak hours. The same is happening in the UK: from May 2022, private charging stations in the UK will be switched off for 9 hours a day, Monday to Friday.
* The great fear of grid collapse is by no means unfounded, as the European continent had constant outages just months ago.
* Soon enough, electricity cuts will lead us to ask what we want to use our electricity quota for.
* The expansion of electric cars would make it impossible to use current power capacity; in the UK alone, 6 nuclear power stations would be needed by 2050 to supplement electricity needs.
So Europe faces an uncertain electricity future...
USA investment bank Goldman Sachs warns in a current report of possible widespread power outages across Europe in the coming winter, with hundreds of thousands of families facing a difficult winter. Here are some thoughts on this:
* There is a huge increase in the price of electricity and natural gas around the world. Dermot Nolan, former chief executive of Ofgem (the British electricity regulator) told Bloomberg that "It's going to be expensive for consumers, it's going to be expensive for big energy consumers. Electricity and gas prices are going to be higher than everyone would like and they're going to be higher than they've been in about 12 years."
* Energy price rises are having an impact on the rest of Europe too: inflation is galloping. At the same time, the so-called "climate saviours" are acting as if they were putting gas on the fire. People will spend not just a few euros, but several hundred euros on the environment/climate change.
* European governments fear they will literally run out of electricity as the number of electric vehicles grows.
* Meanwhile, there are other concerns in the UK: 100,000 lorry drivers are missing to supply petrol stations and grocery stores. Plus, after Brexit, a large number of foreign workers have been expelled from the country.
* But it's not just Britons who fear they will literally run out of electricity, given the growing number of electric vehicles. The German government seems to see this danger for Germany as well. In early 2021, it prepared a bill that anyone who wants to "refuel" their electric car at a home charging station will be left without electricity during peak hours. The same is happening in the UK: from May 2022, private charging stations in the UK will be switched off for 9 hours a day, Monday to Friday.
* The great fear of grid collapse is by no means unfounded, as the European continent had constant outages just months ago.
* Soon enough, electricity cuts will lead us to ask what we want to use our electricity quota for.
* The expansion of electric cars would make it impossible to use current power capacity; in the UK alone, 6 nuclear power stations would be needed by 2050 to supplement electricity needs.
So Europe faces an uncertain electricity future...