The European Commission on Wednesday proposed a voluntary target for the EU countries to cut their gas usage by 15 percent, which could be made legally binding if Russia cuts off gas supplies to Europe.
The aim is to cut gas usage by 15 percent from August to March 2023, compared with the average consumption in the same period during the 2016 to 2021 period. The commission could make the target mandatory if it declares there is a substantial risk of severe gas shortage in the EU.
However, the proposal needs approval from a reinforced majority of EU countries. Diplomats from EU states are set to discuss it on Friday, with the aim of approving it at a meeting of EU countries' energy ministers on July 26.
A full cut-off of Russian gas supplies to Europe, combined with a cold winter, could reduce average EU gross domestic product by up to 1.5 percent if countries do not prepare in advance, the Commission added.
(Cover: Pipes and pressure gauges for gas lines are pictured at Open Grid Europe, one of Europe's largest gas transmission system operators, in Werne, Germany, July 15, 2022. /CFP)