All posts tagged: Energy prices

Don’t count on Starmer’s EU reset to bring down food prices – POLITICO

Don’t count on Starmer’s EU reset to bring down food prices – POLITICO

Published by Sam Flores

By pursuing an agreement, the government appears ready to adopt “unnecessarily stringent” EU SPS controls on imports from non-EU countries, said Jenney. This risks triggering “thousands of additional and unnecessary border delays, considerably more inspections, more paperwork and port congestion — every added layer acting as a compounding financial penalty on trade,” he warned.  Analysis conducted by the Fresh Produce Consortium — seen by POLITICO — suggests that a number of staples from the weekly shop could be negatively impacted as border checks for non-EU produce are ramped up — from Moroccan cucumbers and Indian mangoes to South African citrus fruits and U.S. sweet potatoes. This is expected to add a cost of around £400 million to the supply chain, the consortium estimates.  U.K. Environment Secretary Emma Reynolds leaves No. 10 Downing Street after a Cabinet meeting on March 24, 2026. | Leon Neal/Getty Images Beyond imports, firms have warned that the SPS deal risks imposing costly burdens on domestic growers, who are forced to impose EU standards even if they have no plan to …

German government slashes growth forecast amid Iran war fallout – POLITICO

German government slashes growth forecast amid Iran war fallout – POLITICO

Published by Sam Flores

Inflation to rebound Rising energy prices will likely push inflation back toward 3 percent this year and next, the government said — prompting financial markets to expect two European Central Bank rate hikes this year. ECB officials say they won’t overreact to what may be a short-lived blip, but have warned that they will raise rates if they see any signs of inflation taking root again, only four years after the last such shock. German Economy Minister Katherina Reiche — whose past employment at energy giant E.ON has made her a target for criticism from the left and environmentalists — was quick to blame factors beyond her control for the latest downgrade. “The recovery that we expected this year will once again be derailed by external geopolitical shocks,” Reiche told a press conference. “The war in Iran is driving energy and commodity prices through the roof. That is hurting households and raising costs for the German economy.” However, German business and independent economists have both accused the government of failing to do what is in …

‘Oh my God, we have a problem’ – POLITICO

‘Oh my God, we have a problem’ – POLITICO

Published by Sam Flores

MacGregor said she agreed to the meeting in an effort to “educate” the party leadership and deter them from an exit from the European energy market. According to MacGregor, the National Rally’s proposals ahead of a 2024 snap parliamentary election were a wake-up call for Engie and other energy firms. “We suddenly thought: ‘Oh my God, we have a problem,’” she said of the party’s ambition to ditch France’s renewable targets and leave the European energy market. For years, the National Rally has argued that electricity prices in France would be much lower if the country left Europe’s electricity and gas network, and mostly relied on its own nuclear and hydropower. The energy crisis following Russia’s full-scale invasion of Ukraine in 2022 only cemented this idea. With Le Pen and National Rally President Jordan Bardella now leading the polls ahead of next year’s presidential election, the chief executive said she had a responsibility to engage with them. “We can’t bury our head in the sand. The National Rally has 123 lawmakers; we have to see …

Iran mocks EU calls to reopen Strait of Hormuz – POLITICO

Iran mocks EU calls to reopen Strait of Hormuz – POLITICO

Published by Sam Flores

Western leaders have urged the Iranian regime to reopen the waterway, through which a fifth of the world’s oil and liquefied natural gas transits. Prolonged closure is driving up global oil prices and damaging economic growth prospects across the EU.   Kallas, the EU’s foreign policy chief, wrote on X that “under international law, transit through waterways like the Strait of Hormuz must remain open and free of charge.” But the Iranian regime poured scorn on Kallas’ assertion. “Oh, that ‘international law’?! The one that the EU dusts off to lecture others while quietly green-lighting a U.S.-Israeli war of aggression — and looking the other way on atrocities against Iranians?!” Esmaeil Baqaei, spokesperson at the Iranian foreign ministry, wrote on X. In a stinging rebuke, Baqaei said that “no rule of international law forbids Iran, the coastal State, from taking necessary measures to stop the Strait of Hormuz being used for waging military aggression against Iran.” He added that “unconditional transit passage” in Hormuz is not possible after “U.S./Israeli aggression brought U.S. military assets into …

EU eyes tougher penalties for single market rule-breakers – POLITICO

EU eyes tougher penalties for single market rule-breakers – POLITICO

Published by Sam Flores

Eliminating the ‘Terrible Ten’ The EU’s goal is to eliminate by March 2027 the main barriers to the EU single market — the so-called “Terrible Ten.” These include complex EU rules, overlapping national legislation and complicated business establishment laws. Brussels already launches legal proceedings against countries that obstruct trade across the single market. But these cases often drag on for years before fines are imposed. Commission officials have long encouraged quicker and more biting sanctions. In a further attempt at increasing delivery by EU countries, the EU executive plans to link payouts under its next €1.8 trillion long-term budget to executing reforms to strengthen the single market.  The document also opens the door to smaller groups of countries joining forces to push forward reforms if there is no unanimous agreement among the bloc’s 27 states.  The plan highlights simplification as the first of five pillars that member countries should work on together with the EU institutions. These will include favoring agile legislative instruments and keeping tabs on rules that are making slow progress or not …

Vereint im Gegeneinander – POLITICO

Vereint im Gegeneinander – POLITICO

Published by Sam Flores

Fast ein Jahr nach der Wahl driftet die schwarz-rote Regierung zunehmend in Paralleluniversen ab. Während Kanzler Friedrich Merz (CDU) zur nationalen Anstrengung aufruft, herrscht untereinander politisches Misstrauen. In der Union brodelt es über den „teuren Tankrabatt“ für die SPD, während sich die Sozialdemokraten durch die Forderung nach Abschaffung des 1. Mai als Feiertag provoziert fühlen. Gordon Repinski analysiert, warum es derzeit weniger um Reformen und mehr um gegenseitiges Heimzahlen geht. Im 200-Sekunden-Interview bezieht SPD-Fraktionsgeschäftsführer Dirk Wiese Stellung zu den „Ruckeleien“ der letzten Woche und den Einsparplänen im Gesundheitswesen. Exklusive Informationen zeigen: Hinter verschlossenen Türen stimmen sich Deutschland und andere NATO-Staaten längst über einen möglichen Einsatz zur Sicherung der strategisch wichtigen Meeresenge ab. ⁠Lars Petersen, Investigativ-Chef von POLITICO, WELT und Business Insider⁠, erklärt, warum sich Berlin dennoch ziert, eine Führungsrolle zu übernehmen. Er ordnet außerdem ein, welches juristische Erbe die Bundeswehr dabei bremst. Unsere Podcasts ⁠„Inside AfD“ findet ihr hier⁠ und ⁠„Power & Policy“ hier⁠. Das Berlin Playbook als Podcast gibt es jeden Morgen ab 5 Uhr. Gordon Repinski und das POLITICO-Team liefern Politik zum Hören …

Iran crisis shoves Europe’s economic woes off summit agenda – POLITICO

Iran crisis shoves Europe’s economic woes off summit agenda – POLITICO

Published by Sam Flores

“Heads of state and government are right to invest significant time in the unexpected geopolitical crises that have occurred over the course of the last weeks,” said Siegfried Mureșan, the lead lawmaker on the budget from the center-right European People’s Party, from which European Commission President Ursula von der Leyen and most of the leaders also hail. “However, I believe that as a union we should not spend all of our political time on a single topic at a time and then ignore other subjects which are important but maybe not necessarily urgent.” Leaders have called on Brussels to help protect consumers and industry from high energy prices resulting from Iran’s blockade of maritime traffic in the Strait of Hormuz, which has already lasted for six weeks. Oil and gas tankers have been left stranded in the strategic waterway, which links major exporters like Qatar and Saudi Arabia to the global market. Finland’s President Alexander Stubb told POLITICO last month that the conflict risks triggering a “self-inflicted global recession.” But leaders are wrestling with several …

Vance, after rallying in Hungary for Orbán, says he wasn’t surprised by the autocrat’s defeat – POLITICO

Vance, after rallying in Hungary for Orbán, says he wasn’t surprised by the autocrat’s defeat – POLITICO

Published by Sam Flores

But the Hungarian election had been a major priority just days earlier. JD Vance had traveled to Budapest last week and while Trump didn’t make the trip himself, he did call into the rally. And that eleventh hour campaign push came weeks after another visit by Secretary of State Marco Rubio. Trump, in his remarks via telephone during Orbán’s rally aside Vance last week, credited the autocrat for his strict immigration policy in particular, stating that he “kept your country strong, and he kept your country good, and you don’t have problems with all of the problems that so many other countries have.” Beyond his own immigration crackdown with an expanded and hyper-aggressive core of immigration agents deployed in dozens of American cities, Trump has modeled other aspects of his governance on Orbán’s own actions, be it vociferously attacking judges, bullying the media into greater submission or hollowing out the government by firing career civil servants. But in Hungary, voters revolted amid a heightened focus on Orbán’s endemic corruption during a period of economic stagnation. “This is …

EU plans emergency state aid rule change to address soaring energy costs – POLITICO

EU plans emergency state aid rule change to address soaring energy costs – POLITICO

Published by Sam Flores

The Commission will consult member countries on state aid changes this week, she said. Other measures the Commission is planning include a “toolkit,” to be released April 22, that will contain plans for gas storage filling and guidelines for temporary measures to reduce taxes on energy bills and reduce demand, von der Leyen said following a meeting of Commission officials. Demand-reduction schemes might revolve around building renovation and the renewal of industrial equipment, she said. Von der Leyen also urged lawmakers and member countries to conclude their work on the EU grids package — a plan to upgrade and expand Europe’s electricity network — by the beginning of the summer, saying electrification of the economy was the long-term solution to soaring oil and gas costs. The Commission is also working on a legislative proposal on changes to electricity taxes and grids charges which would be presented in May, and will adopt an EU-wide electrification target before the summer to reduce fossil fuel dependence, she said. The Commission will also imminently release updated benchmarks for the …

The Iran war has been good for Starmer — to a point – POLITICO

The Iran war has been good for Starmer — to a point – POLITICO

Published by Sam Flores

And yet, the conflict that is helping him politically also risks undermining the economic strategy his premiership depends on. So far, Starmer’s handling of the crisis hasn’t been flawless. The U.K. was too slow to send a warship to the Mediterranean, irritating allies including Cyprus, the United Arab Emirates and Jordan. Relations with the U.S. have also deteriorated after U.S. President Donald Trump criticized Starmer for his initial refusal to permit U.S. aircraft from flying out of U.K. bases to bomb Iran. In fact, the “special relationship” is now so strained, senior Whitehall officials worry intelligence cooperation could be affected. But domestically, the war’s political impact has been an undeniable positive for Starmer, who has found himself on the right side of both public and Labour Party opinion. Voters are wary of being drawn into another Middle East conflict, and they support a prime minister who is willing to stand up to Trump. Meanwhile, many MPs scoff at the idea of Deputy Prime Minister Angela Rayner, or any other senior figure for that matter, handling …