Industries

Inflation. The energy price roller coaster

Electricity bills have been breaking records in Europe for several weeks. For this left-wing Spanish site, the energy blackmail of Russia, a major supplier of natural gas, has a lot to do with it.

The return to normality and economic recovery, the strong Asian demand for gas, the climate plan defined by the European Union and, above all, the reduction of the Russian gas supply: all these factors have played a fundamental role in the increase of the electricity bill, which has been breaking historical records for several weeks. Spain is no exception in Europe, but it is the country that has experienced the largest rise in the price of electricity.

Illegal annexation of the Crimean peninsula [en 2014] it forced the European Union to rethink its energy model, which relies heavily on Russia. Already during the winter of 2009, Europe had chattered its teeth when the gas valve was closed because of the duel between Kiev and Moscow. But it was in 2014 that Brussels began to realize that Vladimir Putin was using gas as an instrument of political blackmail.

A business strategy orchestrated by the Kremlin

Much of the gas passes through Ukraine to reach Europe. Moscow is leading the way by opening and closing the floodgates as it pleases in this six-year conflict. Thus, this summer Russia reduced its deliveries to Europe, which is one of the key factors in the price increase. The official version cites logistical problems in some factories [un incendie a entraîné l’arrêt d’une raffinerie de la société contrôlée par l’État Gazprom, en Sibérie]But many analysts agree that it is a business strategy orchestrated by the Kremlin at a time of great global demand.

Its geostrategic position gives Kiev a significant advantage in gaining European support in the war Russia has declared for it. But this support could soon disappear: Germany has just completed construction of Nord Stream 2, a controversial gas pipeline that directly connects the two countries via the Baltic Sea.

The likely scenario is that Ukraine will lose its key position in gas transit, depriving it of vital income. [les royalties] which will be redirected to Russia. At the same time, Europe’s energy dependence on Russia will increase. The Nord Stream 2 project has been severely criticized by the United States and environmental organizations. The European Commission itself looks at it with suspicion, but claims that it does not have the authority to act because it is a

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Maria G. Zornoza

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Due to its content and its very attractive layout, this newspaper, launched in September 2007, was aimed at a younger and left-wing audience than El País. After several waves of layoffs, Público stopped

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