Good morning.
We start with yet another escalation in the energy crisis, as Putin slashed gas supplies to France.
Gazprom informed French utility Engie that it was reducing gas deliveries from today due to a disagreement on the application of some contracts.
The move piles further pressure on European energy supplies, which are already under strain. France has urged companies to draft energy savings plans by next month, while the EU is drawing up emergency plans to reduce the cost of energy.
Engie said: “As previously announced, Engie had already secured the volumes necessary to meet its commitments towards its customers and its own requirements, and put in place several measures to significantly reduce any direct financial and physical impacts that could result from an interruption to gas supplies by Gazprom.”
5 things to start your day
1) The Great Unretirement takes off as pensioners lose spending power – Return of older workers signals the severity of the cost-of-living crisis
2) British battery plant delays production again as energy costs soar – Britishvolt warns it…
