EU agrees to spend billions to make grid crisis-proof
The project was launched after this winter's gas crisis left thousands of homes without heat, following a price row between Moscow and transit country Ukraine.
The plan to subsidize new power projects, gas pipelines and power cables aims to enable the 27 EU countries help each other during energy crises and to generate fresh employment for constructors and engineers in the face of recession.
The European Parliament had earlier voted to divert any unused funds from the project into energy efficiency program.
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India's electricity demand falls at the fastest pace in at least 12 years
DELHI - India's power demand fell at the fastest pace in at least 12 years in October, signalling a continued decline in the industrial output, according to government data. Electricity has about 8% weighting in the country's index for industrial production.
India needs electricity to fuel its expanding economy but a third decline in power consumption in as many months points to tapering industrial activity in a nation that aims to become a $5 trillion economy by 2024.
India's industrial output fell at the fastest pace in over six years in September, adding to a series of weak indicators that suggests that…
