The EU’s Aggressive Plan To Counter Astronomical Electricity Prices

The European Commission will soon propose a mandatory target for the EU to cut power consumption at peak hours, a revenue cap on electricity producers and fossil fuel companies, and a price cap on Russian gas as immediate measures to save the European gas and electricity markets and help vulnerable consumers, European Commission President Ursula von der Leyen said on Wednesday.   Even though the EU has managed to diversify its imports away from Russian gas - which now accounts for just 9% of EU gas imports compared to 40% before the Russian…