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Brussels mulls price cap on renewables and nuclear power to curb bills

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Brussels mulls price cap on renewables and nuclear power to curb bills

The European Union might set a most worth on the electrical energy generated by non-gas producers, particularly renewables and nuclear, with the intention to boost additional income for households underneath monetary stress, in accordance with draft plans circulated by the European Fee.

The measure must be accompanied by an EU-wide plan to chop down electrical energy demand, much like the 15% fuel discount plan agreed earlier than the summer time break.

The concepts, contained in a leaked non-paper seen by Reuters and different media shops, don’t represent an official coverage announcement and are set to be mentioned by EU vitality ministers once they collect subsequent Friday for an emergency assembly.

The Fee believes the three-pronged strategy – financial savings, worth cap and client assist – could possibly be quickly carried out to supply immediate aid throughout the financial system, though it’s unclear how a lot.

“[The measures] won’t carry vitality costs again to pre-crisis ranges or take away the numerous results of the disaster on each inflation and the European financial system as an entire,” says the doc.

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It additionally guidelines out the introduction of extra radical proposals, together with a full suspension of the wholesale market and controlled retail costs.

The paper is a “preliminary evaluation” and has not been validated by the manager’s authorized companies.

The leak comes simply days after European Fee President Ursula von der Leyen pitched an “emergency intervention” and a “structural reform” within the electrical energy market to tame the spiralling costs besetting households and corporations alike.

Von der Leyen additionally endorsed a worth cap on Russian pipeline fuel flowing to Europe, however this was not featured within the draft paper as a potential resolution.

“We see that the electrical energy market is now not working as a result of it’s being severely disrupted by Putin’s manipulation. And that’s the reason we have to go a step additional,” she mentioned on Friday.

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“Putin prefers to burn off fuel than to contractually provide it to Europe or different areas. So save vitality correctly, particularly at peak occasions, in order that we don’t want fuel.”

The Fee chief is scheduled to ship her annual State of the Union handle on 14 September, when she is predicted to unveil additional particulars on options to deal with the worsening vitality disaster.

Marginal pricing underneath scrutiny

Right now’s liberalised electrical energy market relies on a mannequin of marginal pricing.

Underneath this method, all electrical energy producers – from wind and photo voltaic to fossil fuels – bid into the market and supply energy in accordance with their manufacturing prices. The bidding begins from the most cost effective sources – the renewables – and finishes with the costliest ones – on this case, fuel.

Since most EU international locations nonetheless depend on fuel to fulfill all their energy calls for, the ultimate worth of electrical energy is usually set by fuel, even when clear, cheaper sources additionally contribute to the overall combine.

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The system was initially praised for reinforcing transparency and selling the swap to inexperienced vitality, however Russia’s invasion of Ukraine has created unprecedented instability.

The continued provide manipulation by Gazprom, Russia’s state-controlled vitality large, has put traders on edge, resulting in rampant hypothesis and record-breaking costs.

Scorching summer time temperatures, persisting drought and a shortfall in nuclear manufacturing have solely augmented the position fuel performs to maintain the lights on throughout the EU.

“We’d like a brand new market mannequin for electrical energy that basically capabilities and brings us again into steadiness,” von der Leyen mentioned.

The doc drafted by her govt rejects drastic concepts, resembling a far-reaching cap on all electrical energy, subsidies for carbon emissions permits or an outright suspension of the wholesale market.

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As a substitute, it suggests a extra focused cap for non-gas producers – wind, photo voltaic, nuclear, sure varieties of hydropower, in addition to lignite – who’ve seen a surge in earnings underneath the marginal pricing mannequin.

The distinction between the ultimate electrical energy worth and the agreed-upon cap would yield additional revenues for governments, who would then be obliged to redirect these funds in the direction of customers in want, and probably small- and medium-sized firms.

The Fee recommends international locations flip the funds into direct revenue assist, fairly than into regulated retail tariffs for chosen customers, which danger distorting the free market.

This novel worth cap wouldn’t be suitable with the windfall taxes on vitality corporations that international locations like Spain and Italy have launched in latest months, the leaked doc warns, as a result of these distinctive measures are broader in scope.

The manager additionally dismisses the opportunity of making use of the Iberian mannequin – a subsidised cap on fuel costs – to all the EU market, fearing it might encourage a better consumption of fuel and make international locations extra weak to Russia’s provide manipulation.

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Most specialists insist that marginal pricing continues to be one of the best market mannequin in regular occasions and any intervention must be exact and time-limited. Vitality financial savings, they say, stay one of the best software for the EU to make it safely by the winter season.

“There’s a restrict to what a reform of the market design or emergency interventions can do to restrict the value. We should always not assume this type of intervention will magically resolve Europe’s vitality drawback. It won’t. We’re in a really tight market,” Simone Tagliapietra, senior fellow on the Bruegel think-tank, instructed Euronews.

“For my part, the primary resolution will inevitably must do with vitality demand discount, each on fuel and electrical energy.”

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Asylum applications in the EU drop by 17% as countries tighten borders

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Asylum applications in the EU drop by 17% as countries tighten borders

Syrians remain the largest group among asylum seekers, while Germany, Spain, Italy and France face the most cases.

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First-time applications from people seeking asylum in the EU have declined by 17% this summer, according to Eurostat.

Syrians are still the largest group of people seeking asylum with more than 10,000 first-time applicants. Venezuelans followed them with 6,340 and Afghans with 5,930 applications.

Germany, Spain, Italy and France still host the highest number of first-time asylum applicants. These four countries are processing 76% of all first-time applications in the EU. 

According to the report, in June the EU total of first-time asylum applicants was 15.7 per 100,000 people.

Among the 70,375 seeking asylum in the EU, a bit over 2,000 are unaccompanied minors.

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The majority of underaged asylum seekers are originally from Syria (675), Afghanistan (405) and Egypt (255).

Most of these children apply for asylum in Germany, Bulgaria, Greece, the Netherlands and Spain.

How are the EU countries reacting?

Despite the drop, migration remains a buzzword across EU member states, forcing the issue to the top of the agenda.

The 17% drop in asylum applications came as some of the bloc’s countries announced new tighter border controls.

Germany decided to tighten its land borders for six months in September and has allowed its law enforcement to reject more migrants right at its borders.

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Temporary border controls are set up at the land borders with France, Luxembourg, the Netherlands, Belgium, and Denmark, adding to the existing checks, now totalling at all land crossings with nine European countries.

“Until we achieve strong protection of the EU’s external borders with the new Common European Asylum System, we need to strengthen controls at our national borders,” German Interior Minister Nancy Faeser said.

The Dutch government has also confirmed its intention to ask “as soon as possible” for an opt-out clause from the EU’s migration and asylum rules.

For more information about this, watch the Euronews video in the player above.

 

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Video editor • Mert Can Yilmaz

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Celine Dion Surprises Fans in Strange and Epic Sunday Night Football Promo Set to ‘It’s All Coming Back to Me Now’

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Celine Dion Surprises Fans in Strange and Epic Sunday Night Football Promo Set to ‘It’s All Coming Back to Me Now’

Channeling their best, “we come to this place for magic” hopes, NBC and Peacock unleashed a new promo for “Sunday Night Football” with Canadian siren Celine Dion. Because when fans think of football, they think of Deion (Sanders).

The singer appeared suddenly after the opening bars of her iconic song, “It’s All Coming Back to Me Now,” rang out during the broadcast. Dressed in a vintage 1996 Super Bowl sweatshirt, Dion recalled the legendary game when The Cowboys bested The Steelers, hyping tonight’s rematch.

“I think my favorite thing about this game is its power to connect who we are, to who we were.” Dion said. “To prove that our most powerful memories, our most enduring loves, can stay with us forever. You know what I’m talking about, right? Sometimes, some nights, it all just comes back.”

While footage from the former matchup played, Dion continued to narrate, “Their love affair, well maybe not love the way I usually sing about it. But still, work with me here. I mean, ‘When you touch me like this, When you hold me like that’ … it kind of fits, no?”

“But really, what beautiful passion it produced. What painful heartbreak it revealed. So, so long ago,” the singer continued. “Like so many old flames, it always feels right when they’re back together, don’t you think? Like tonight, evoking the kind of magic they once produced. The Cowboys and the Steelers, a timeless classic on Sunday night.”

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The Oscar winner was then doused with Gatorade. Fingers crossed, this promo gets us one step closer to Dion returning to her Vegas residency.

Dion’s epic last live performance at the 2024 Olympics opening ceremony stunned the world as she performed an astounding rendition of f Edith Piaf’s “Hymne A L’Amour” at the foot of the Eiffel Tower.

The singer captured the night belting out through the wind and rain on the world’s stage. This was her first performance since her diagnosis with Stiff Person Syndrome in December 2022, which forced her to step out of the spotlight.

In an interview with Hoda Kotb in June, Dion shared how Stiff Person Syndrome affects her singing voice, saying that it feels “like somebody’s strangling you… it’s like somebody’s pushing your larynx, pharynx, this way.”

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American father of Hamas hostage Itay Chen pushes US, Israel on ‘Plan B’ as negotiations falter

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American father of Hamas hostage Itay Chen pushes US, Israel on ‘Plan B’ as negotiations falter

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“When was the last time you talked to your kid? Do you know where he slept last night? Do you know what he ate? Do you know if he had a blanket on him?” Ruby Chen, father of Itay Chen who was taken by Hamas on Oct. 7, 2023, asked in a sit-down interview with Fox News Digital.

“All those types of questions are questions that we ask ourselves constantly,” he said. “The feeling is that we’ve been failed.”

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Itay,19 years old when he was taken, has remained a hostage held in Gaza for 365 days after his unit in the Israel Defense Forces (IDF) was attacked in southern Israel when Hamas terrorists flooded the border in a series of mass assaults. 

Chen, a New York City native, said he and his wife have been given “unprecedented” access to the White House, the CIA and other top agencies throughout the last year to discuss ongoing strategies to try and get the hostages out of Gaza.

IDF Sgt. Itay Chen was serving along the Gaza border when he was taken hostage by Hamas terrorists on Oct. 7. (IDF)

ISRAEL SAYS TOP HAMAS RAFAH BRIGADE ‘DISMANTLED’ ON PHILADELPHI CORRIDOR, 2,000 TERRORISTS KILLED

The Chens have not only met with national security adviser Jake Sullivan a dozen times, as well as CIA Director William Burns and Treasury Secretary Janet Yellen, they also hold a weekly call with the White House. 

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But ultimately, these supportive efforts have fallen flat when it comes to the real needs of American families whose loved ones are still held hostage by Hamas. 

“We have been failed by the Israeli government, we, as U.S. citizens, feel we’ve been failed by the Biden administration despite all of the access that they’ve provided us,” he explained. “They share as much as they can. But at the end of the day, it’s… very black and white.

“Where is he?”

Italy smiles in a black tshirt

Itay Chen has been confirmed dead after being taken hostage on Oct. 7, Israeli officials said. (Fox News )

Chen explained that following the Oct. 7 attacks on Israel, the Israeli government pushed a strategy to secure the release of the then 251 hostages by bombarding suspected Hamas positions in Gaza.

In the initial weeks following the deadly Hamas attacks, Israel began pounding northern Gaza – a move Israeli Prime Minister Benjamin Netanyahu believed would bring Hamas leader Yahya Sinwar “to his knees” and make him be “willing to release hostages.”

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A week-long cease-fire in November saw the release of 105 hostages. Twelve other hostages have been freed following negotiations during the immediate aftermath of the attack, or because of IDF rescue operations between February and August. 

YAZIDI WOMAN HELD HOSTAGE FOR 10 YEARS IN GAZA RESCUED IN ISRAEL, US OPERATION

None of the eight American hostages that were kidnapped have been released, and only seven continue to be held by Hamas after the body of Hersh Goldberg-Polin was discovered by IDF forces in late August, after he along with five others were killed by the terrorist group.

More than 100 hostages remain in captivity in the Gaza Strip – 97 of whom were abducted on Oct. 7, 2023.

American Hostages

American hostages who were taken by Hamas terrorists on Oct. 7, 2023, and held in Gaza.

The Chens, other American families and the international community have repeatedly urged Israel and Hamas to reach a cease-fire agreement and return all hostages to their families. 

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But disagreements over security corridors in Gaza have created a seemingly insurmountable hurdle as U.S., Egyptian and Qatari officials work to get Israel and Hamas to reach an agreement.

The father of the IDF soldier pointed out that so long as no one is discussing a “day after” plan for the Gaza Strip and the Palestinians there, Hamas will continue to hold tightly to its most powerful bargaining chip, the hostages.

WASHINGTON, DC - DECEMBER 13: Surrounded by other family members of Americans who were taken hostage by Hamas during the October 7 terrorist attacks in Israel, Jonathan Dekel-Chen, father of Sagui Dekel-Chen, and Ruby Chen, father of Itay Chen, speak to reporters after a meeting with President Biden at the White House on Wednesday, December 13, 2023. 

WASHINGTON, DC – DECEMBER 13: Surrounded by other family members of Americans who were taken hostage by Hamas during the October 7 terrorist attacks in Israel, Jonathan Dekel-Chen, father of Sagui Dekel-Chen, and Ruby Chen, father of Itay Chen, speak to reporters after a meeting with President Biden at the White House on Wednesday, December 13, 2023. 

“Where is Hamas in the day-after? And if no one is willing to talk about it, then Hamas believes that they are better off holding on to the hostages until something changes,” he explained. “It’s a jihad organization. They wish to have chaos. They are looking for a regional conflict.

“When they see that there’s now a conflict with Lebanon, that does not motivate them to get into a cease-fire agreement. On the contrary, they wish to belong, and have other players join in this jihad against Israel,” Chen continued. “So I question, what is the plan?”

“I am very critical of the time,” Itay’s father said. “The last 10 months, I’ve been asking Mr. Sullivan, What’s plan B?

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“I haven’t heard of a Plan B. And that’s unacceptable,” he added.

palestinian migration crisis

A man walks past shelter tents erected near collapsed buildings in the Bureij camp for Palestinian refugees in Gaza on Oct. 1, 2024. (Eyad Baba/AFP via Getty Images)

BLINKEN TRAVELS TO EGYPT FOR CEASE-FIRE TALKS AS ISRAEL ADDS NEW WAR GOAL

Securing peace in the region became even more precarious last week after Israel, against the objections of the U.S. and its international allies, launched an incursion into southern Lebanon with the expressed intent of dismantling the threat posed by Hezbollah.

Chen pointed out that this second front not only added another dimension to securing the release of the hostages, but it also seemingly pushed talks with Hamas on the backburner as concerns remain high over a broader regional conflict.

“If you could follow the news, you could see that the hostage issue has been less prioritized,” he said. “And that’s a very difficult feeling for us and the families.”

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Netanyahu has said his top priority is securing the release of the hostages, but his refusal to withdraw from the Philidelphi Corridor due to security reasons has created a negotiation impasse and questions have begun to mount over whether the prime minister is truly prioritizing the hostages over his push to “eliminate Hamas.” 

But the parents of Itay – who has been described as a “fun-loving kid,” the “sandwich” of the family with an older sibling and younger sibling, everybody’s “best friend,” and a former Boy Scout turned a young man with a loving girlfriend – cannot allow for him, or the others still in Gaza, to be at the mercy of any political agenda. 

“I’m a guy that comes from New York City – and we talk less, we look at actions. The actions of the last year show the opposite.” Chen said. “He can say whatever he wants. I don’t believe a thing that comes out of his mouth, I believe in what he does.”

The father of three also urged the Biden administration to question whether it is still in the U.S.’s strategic interest to unequivocally back Netanyahu.

Netanyahu speaks at UN

Prime Minister Benjamin Netanyahu addresses the 79th session of the United Nations General Assembly, Friday, Sept. 27, 2024. (AP Photo/Pamela Smith)

“There is no accountability from either side for failed negotiation. You do not see any equation that says, ‘OK, if you do not do A, then there’s a consequence’ on either side,” Chen said in reference to both Israel and Hamas. “There’s no consequence associated with a negative action to a strategic interest of the United States.”

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Chen also argued that “effective pressure” needs to be put on Hamas by reevaluating what other “pressure points” can be utilized.

The father pointed to the clear need for tougher economic and diplomatic involvement when it comes to international aid sent to Gaza – including tougher sanctions not only on adversarial nations but on partner countries that allow aid to flow into Gaza.

This includes stricter oversight of United Nations-provided humanitarian aid, which though intended for the Palestinian people, is falling into the hands of Hamas, a group that is not designated as a terrorist organization by the UN.

Hamas has long been accused of seizing basic goods in Gaza and then reselling them in a black-market scheme at exuberant prices. 

Reports have further indicated that Hamas for years has had substantial access to monetary aid siphoned from funds provided by top organizations like the United Nations Relief and Works Agency (UNRWA), which has been directly used for combatant operations against Israel, including tunnel building and access to arms.  

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Itay Chen

Itay Chen’s father pleaded with President Biden to help his family find their son. (Obtained by Fox News)

But aside from the substantial need to address aid-based concerns, Chen also argued that diplomatic solutions are not being fully recognized by the U.S.

Nations like Russia and Thailand secured the release of their citizens taken by Hamas, and Chen argued Washington – which was able to negotiate with its biggest adversary just months ago to free U.S. citizens from Russian prisons – should be working to do the same to secure the release of those held in Gaza.

“So, it’s possible,” Chen said. “Complicated, yep. Doable, yep.”

“The assumption that was put in front of us at the beginning was that U.S. hostages will come out via a larger deal that Israel will be a part of. And if that assumption is not working out after a year, then yes, we need to challenge the administration and look at that assumption.

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“Is that still valid after one year?”

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