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Energy price spike in Europe, coal shortage in India: Are we seeing a global energy crisis?



France, Spain and Poland are among the EU-member-states urging Brussels to intervene in energy markets as wholesale gas prices soar to record levels, hitting businesses and families. The European Union seeks to keep plans to tackle climate change on track amid record-high energy costs. But it’s clear that poorer households have to be supported in some way.
European countries aren’t alone in their struggle with energy-supply. India is facing a crunch in coal, following a surge in demand. Energy suppliers there have recently added over 28 million consumers, mostly lower-middle class and poor, who are buying goods like fans, lights and TV sets. It’s not just soaring demand: Recent monsoon rains flooded mines and disrupted transport. That sent coal prices up sharply for power stations. Coal generates nearly 70 percent of India`s electricity. Three-quarters of the fuel is mined domestically. State-run giant Coal India produces most of the country’s supply … and says it’s now a ‘war-footing’ to ensure deliveries. But supplies for more than half of coal fired plants are at a critical level. Delhi says it’s even considering rebooting IDLED power stations.

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