UNECE Executive Secretary warns Europe's fuel crisis may cause 'energy poverty'

Olga Algayerova, Executive Secretary of the United Nations Economic Commission for Europe (UNECE) has highlighted the impact of the European Union fuel crisis on the economies of member nations. Algayerova further revealed that the fuel crisis would mostly affect the "vulnerable countries," as reported by Sputnik. Algayerova has informed that the ongoing European fuel crisis would lead to several households facing difficulty in paying energy bills. 

While speaking to the Russian state agency, on the sidelines of the Russian Energy Week, Algayerova insisted that the European Union fuel crisis will result in affecting the economy of "importing countries", mainly "the vulnerable countries", as reported the state agency. She underscored that if a family has energy costs higher than 10 per cent of their income, it would result in "energy poverty," reported the news agency. Furthermore, she revealed that European Union countries have begun discussion as to how to help those families. 

Algayerova highlighted that in addition to the disparity between supply and demand, issues exist with Europe's 'storage capacity and carbon price'. Speaking to the Russian news agency, on the sidelines of the Russian Energy Week in Moscow, the UNECE Executive Secretary Olga Algayerova noted that under the European Union Emissions Trading System (ETS), European energy companies, manufacturers and airline companies need to make payments for each ton of carbon dioxide emissions they emit as part of the effort in tackling climate change. 

UK Fuel Crisis

Petrol prices are rising as the cost of petrol is at its highest price since 2013, reported Sky News on October 12. The Petrol Retailers Association informed that 10 per cent of garages in London and the South East were still reporting fuel shortage, as per the British news organisation's report on October 12. The UK government on Friday, October 1, announced that they had extended the emergency visas to help abate labour shortages that have led to empty shelves and long petrol station queues, according to AP. The Boris Johnson administration said that the new immigration measure will now allow 300 fuel drivers to arrive immediately and stay until the end of March, as per the news agency's report. In addition, around 200 military personnel, including 100 drivers, will be deployed in a bid to provide temporary support, relieve pressure on petrol stations. 

(With inputs from AP)

(Image: Facebook/UNECEPage/AP)