Belgian Energy Minister Tinne Van der Straeten said the next few years to a decade of winters in Europe will be "so bad" unless the EU moves to urgently put a price cap on runaway gas prices.
"The next winter will be terrible if nothing is done," Van der Straeten said via Twitter. "We must act at the source, at the European level, and work on freezing gas prices." She further said the European electricity price formation system needs to be reviewed.
"Electricity is produced today at a price that is much lower than the price at which electricity and gas are sold. There is no longer any link between the cost of production and the selling price," she pointed out.
Gas prices have skyrocketed and are now at record highs due to the war in Ukraine, which triggered a lot of western sanctions on Russia. As a lot of European nations are dependent on Kremlin's embargoed oil, electricity prices across the continent have soared as well.
Authorities have been warning about the great difficulties nations within the bloc will face over the coming months.
Meanwhile, French President Emmanuel Macron called the current occurrence the "end of abundance." Government officials have expressed concern that citizens could react poorly to this statement.
Experts have warned of possible street violence erupting as a result of expected financial hardship this coming winter. In Germany, bigwigs are forecasting the possibility of gas riots, as well as the rise of right-wing populism in response to years of political mismanagement from the current ruling class.
Romanian Member of the Parliament Cristian Terhes has publicly blamed the current situation on the EU's green agenda policies. According to him, these prevented the bloc from becoming energy independent, and have left the likes of Germany sending millions to Russia for gas despite the ongoing war in Ukraine.
"These European bureaucrats are not the solution, but the cause of many problems that the EU is facing, and the deeply damaging energy crisis is just proof of that," he said.
French PM warns fuel will be rationed in France this winter as Russia cuts gas supply
French Prime Minister Élisabeth Borne recently warned that fuel will be rationed this winter as Russia reduced the amount of gas it is sending to French energy company Engie. (Related: Russian gas no longer flowing to France – energy rationing for the rest of Europe soon on the way.)
The sudden reduction in supply was allegedly due to a "disagreement between the parties on the application of contracts."
"Engie had already secured the volumes necessary to ensure the supply of its customers and for its own needs, and implemented a series of measures to significantly reduce the direct financial and physical impacts that could result from interruption of gas deliveries by Gazprom," a press release from the company stated.
Still, Borne asked industries to do all they can to reduce their usage.
Visit FuelRationing.news for more stories about the dwindling fuel supply in Europe.
Watch the below video that talks about energy shortages that could grip EU for years.
This video is from the TruNews channel on Brighteon.com.
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GRID DOWN: Finnish grid operator warns of possible power outages this winter across Finland.
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