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European Commission announces plan to ease Europe's gas crisis

The BBC reported, the European Commission has announced a package of measures to alleviate an energy price surge that has sent bills skyrocketing across Europe.
The BBC said, the approval of tax cuts and the joint purchase of fuel by the EU members were among the proposals put forward.
It mentioned, energy prices have hit record highs for various reasons, including high demand for natural gas as economies recover from the Covid-19 pandemic.
It added, the European Commission has been under pressure to act on the price crunch.
According to the BBC, the wholesale price of gas has increased by 250% since January, triggering a knock-on spike in costs for consumers and businesses.
On Wednesday the Commission's energy chief, Kadri Simson, said the EU's executive was responding to calls for action by unveiling an "energy price toolbox".

The toolbox outlines steps member states can take to reduce energy bills in their countries without breaching EU law. It mostly confirms the measures national governments can already use, but considers what more the Commission can do.
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Ms Simson said member states were best placed to ease the burden of rising energy prices as winter approaches.
She urged EU countries to consider emergency income support for vulnerable households, state aid for companies, and targeted tax reductions.
She also advised member states to temporarily pause bill payments where necessary, and put in place safeguards to avoid disconnections from the grid.
"Rising global energy prices are a serious concern for the EU," Ms Simson said. "As we emerge from the pandemic and begin our economic recovery, it is important to protect vulnerable consumers and support European companies."
On top of those measures, Ms Simson said the Commission would look into the possible benefits of EU countries jointly buying natural gas.
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Ms Simson said countries could collectively buy gas to form a strategic reserve. But, like the joint scheme to buy Covid-19 vaccines during the pandemic, participation would be voluntary.
The idea was proposed recently by governments that want more EU intervention, such as Spain.
All member states were encouraged to use the EU's €750bn (£636bn; $867bn) Covid-19 recovery fund to invest in clean energy to meet the bloc's climate targets.
"We are not facing a surge because of our climate policy," Ms Simson said. "Fossil fuel prices are spiking. We need to speed up the green transition, not slow it down."
Source: BBC
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BENEFIT Sponsors BuildHer...
- April 23, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”
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