Germany has begun rationing hot water, dimming the lights and turning down the heating as the country reels from Putin’s gas cuts.
Economy minister Robert Habeck last month moved Germany to the second phase of its three-stage emergency gas plan, but stopped short of rationing supplies.
However, some local authorities have taken matters into their own hands amid fears shortages could lead to blackouts this winter.
Vonovia, the country’s largest residential landlord, said it would lower the temperature of its tenants’ gas central heating to 17 degrees between 11pm and 6am, the Financial Times reports.
A housing association in Saxony said it would start rationing the supply of hot water, while Cologne is dimming its street lighting. Other measures include switching off hot water altogether in school and gyms and shutting down public swimming pools.
The moves highlight the real concerns about an energy crisis this winter after Russia slashed gas supplies to Europe.
Next week the crucial Nord Stream pipeline to Germany will shut down for planned maintenance, with some fearing it will never reopen.
07:53 AM
How will Europe cope without Russian gas?
Fears are growing that Putin could turn off the taps completely in the coming months, sparking shortages this winter and leading to rationing and blackouts.
Governments are rapidly putting together contingency plans to help cope with a possible supply cut-off.
Here’s a rundown of what some countries are planning:
07:45 AM
Gas prices head for another week of gains
Natural gas prices are on course for the longest stretch of weekly gains this year as worries mount about Putin’s supply cuts.
Benchmark European prices eased this morning, but are still heading for a fourth straight week of increases.
The Nord Stream pipeline from Russia to Germany is due to shut on Monday for 10 days of maintenance, and there’s mounting concern that flows won’t return after the work.
Traders will have a close eye on scheduled talks between Putin and officials on energy issues.
07:36 AM
Germany starts to dim the lights
Good morning.
Germany has begun an unofficial process of rationing energy amid rising fears Putin’s gas cuts could lead to blackouts this winter.
Economy minister Robert Habeck has placed the country in the second phase of its three-stage emergency gas plan, warning: “We have to be prepared for the situation to become critical.”
While that stage doesn’t include rationing, some local authorities and housing companies have taken matters into their own hands.
Vonovia, the country’s largest residential landlord, said it would lower the temperature of its tenants’ gas central heating to 17 degrees between 11pm and 6am, the Financial Times reports.
A housing association in Saxony said it would start rationing the supply of hot water, while Cologne is dimming its street lighting.
Things could still get worse. The key Nord Stream pipeline from Russia to Germany is due to shut down for maintenance work next week, and some fear it will never reopen.
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What happened overnight
Hong Kong stocks jumped early this morning, with the Hang Seng Index climbing 1.5pc.
The Shanghai Composite Index rose 0.5pc, while the Shenzhen Composite Index on China’s second exchange added 0.4pc.
Tokyo stocks opened higher following gains on Wall Street. The benchmark Nikkei 225 index was up 0.5pc in early trade.
Coming up today
Corporate: Vistry Group (trading statement)
Economics: Non-farm payrolls, unemployment rate, average hourly earnings, labour force participation rate (US)