Europe scrambles to protect citizens from sky-high energy prices

to do is flatten the curve,” Ursula von der Leyen, president of the European Commission, announced on September 7th. She was talking not about the pandemic, but about Europe’s newest crisis: a surge in energy prices caused by Russia curtailing fossil-fuel exports to press the to stop supporting Ukraine. Ms von der Leyen proposed five -wide measures to frustrate Russian manipulation, including flattening peaks in electricity demand which help drive up prices. European energy ministers will discuss her proposals when they meet in Brussels on September 9th.Ms von der Leyen’s measures would co-ordinate efforts to blunt rising energy prices at the European level. Besides smoothing of electricity use, they include windfall-profit charges both on non-fossil-fuel power generators, such as renewables and nuclear, and on fossil-fuel companies. The proceeds would be returned to consumers. Other measures would offer liquidity to energy companies hit with high demands for collateral, and cap the price of Russian gas. Vladimir Putin responded with a threat to end energy exports to Europe.