Are you ready for the winter?
Energy prices have reached now £0.4885 per kWh even for summer in the UK nowadays. We can not imagine what it will be in winter... In big cities of Germany the government institutions will cut off the hot water supply... 27 EU countries are back to 15% of gas reduction for winter time. The list of different measures have been taken to prevent future energy crisis and minimise the consequences of global situation.
The World Bank’s energy price index increased by 26.3 percent between January and April 2022, on top of a 50 percent increase between January 2020 and December 2021. (https://blogs.worldbank.org/developmenttalk/energy-shock-could-sap-global-growth-years)
The Russian invasion of Ukraine has disrupted global energy markets, generating the biggest surge in crude-oil prices since the 1970s.
According to the National Energy Action (NEA) charity: "Millions will simply not be able to heat their homes this winter. We will see serious ill-health and early deaths for those most susceptible to the cold."
It sounds scary. But there is always a way out. This is also a moment to realise the old saying:
“never waste a good crisis”
Some observers have compared our current moment to the energy crises of the 1970s. In 1973, a war between Israel and its neighbours led to an oil crisis, which ultimately sowed the first seeds for the nascent wind industry. (https://ramboll.com/media/rgr/what-do-rising-energy-prices-mean-for-the-green-energy-transition)