Europe shows nerves of steel in new 'cold war'

As a result, wholesale prices plummeted as a glut from eager suppliers of liquefied natural gas (LNG) hit the market. While a mild autumn helped and much remains to be seen, Europe’s response to the energy crisis has surprised critics. Many are wondering if the crisis has established a new paradigm that will supercharge conservation efforts and the long-term battle against climate change – or simply drive efforts to find more carbon-based fuels.

Faced with a diminished supply of natural gas from Russia related to the Ukraine conflict, governments across Europe decided to keep the heat off in public buildings until December 1 and asked consumers to do the same. When the heating is switched on, they want to limit the thermostat setting to 19 C.