Commodities
EU Urges Member States to Cut Energy Demand Amid Strait of Hormuz Disruptions
The European Union has urged its member states to consider measures to curb energy demand as oil prices swing due to supply disruptions in the Strait of Hormuz.
EU Energy Commissioner Dan Jorgensen sent a letter to energy ministers on the 26th, according to Portuguese public broadcaster RTP.
Jorgensen said that while Europe is 'collectively far better prepared' than during the winter of 2021 when the energy crisis intensified, recent price fluctuations are linked to supply disruptions rather than increased demand.
He proposed steps such as cutting electricity consumption during peak hours and lowering indoor temperatures in public buildings to reduce gas demand for power generation.