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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Why rolling back European electricity prices is tougher than appears
BERLIN - Nothing grabs politicians' attention faster than angry voters, and they've had plenty to be furious about as natural gas and electricity bills have soared to stomach-churning levels in recent months.
That's led to a scramble to figure out ways to get those costs down — but that's turning out to be very difficult, so the likeliest result is that EU leaders meeting later this week won't come up with any solutions.
“There is no single easy answer to tackle the high electricity prices given the diversity of situations among Member States. Some options are only suitable for specific national contexts,”…
