Switzerland’s Proposed Gas Rationing Rules Will Fine, Jail Violators

Panic is beginning to set in over Europe’s worsening energy crisis, forcing countries to ration supplies and even threaten fines or jail time for individuals and businesses caught violating the emergency restrictions.

Switzerland’s Federal Department of Economic Affairs recently proposed new rules under the Federal Law on National Economic Supply that limit indoor temperatures to a maximum of 19 degrees Celsius, and water temperatures to 60 degrees Celsius for buildings with gas heating systems. Use of radiant heaters would be prohibited during the rationing period, while swimming pools and saunas cannot be heated.

Those caught violating the measures could face daily penalties anywhere between 30 to 3,000 Swiss Francs or even jail time, and utility companies could also face fines should they knowingly surpass their gas quotas. Those states (or cantons as they are referred to in Switzerland) opposing the new instructions have until September 22 to voice their concerns or alternate proposals. The government will likely face an uphill battle when it comes to implementation, though, and courts will be busy disputing challenges arising from the rules.

Earlier, the country unveiled a voluntary gas savings target of 15% for the winter season as Russia’s reprisal against Western-imposed sanctions could lead to widespread gas shortages and chaos across the European Union. However, should the voluntary suggestions fail to materialize, the country would put the mandatory rationing moves in place. In the meantime, other countries facing the energy crisis are also taking action, with Britain’s new prime minster Liz Truss vowing to subsidize consumers’ energy bills, while France’s Emmanuel Macron promising to freeze gas prices and cap electricity price increases to a maximum of 4%.

Information for this briefing was found via Blick and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why the Market May Be Misreading Iran | David Woo

Why US Fertilizer Supply Could Matter a Lot More Now | Pat Varas – Sage Potash

Roscan Gold: Mali Discount Hits Kandiole PEA

Recommended

First Majestic Tracking Ahead Of Guidance Following Q1 Production Results

Canadian Gold Drills 19.5 g/t Gold Over 1.0 Metre At Lac Arsenault

Related News

German Carmakers Cut Off Russian Dealers from Software

German car manufacturers BMW and Audi have recently cut off their Russian dealers from accessing...

Thursday, August 24, 2023, 02:59:00 PM

Germany Still Hates Nuclear: Berlin Rules Out Extending Nuclear Power Despite Worsening Energy Crisis

Germany’s indecisiveness over its energy future continues, as the country’s environmental and economic minsters on...

Wednesday, March 9, 2022, 02:40:14 PM

Is Russia Desperate for Foreign Currencies? Putin Partially Lifts Decree Requiring Ruble-Only Payments for Natural Gas

It appears that Russia’s energy giant Gazprom might be having trouble finding buyers for its...

Monday, January 9, 2023, 06:09:00 AM

Biden Administration Introduces ‘Long-Term Impact’ Sanctions on Russia

Citing an unprovoked attack on Ukraine, US President Joe Biden unveiled yet another round of...

Thursday, February 24, 2022, 08:40:00 PM

NG Energy Receives Permits For Sinu-9, Construction To Commence Immediately

It appears that it is full steam ahead for NG Energy’s (TSXV: GASX) Sinu-9 project...

Friday, September 10, 2021, 08:31:24 AM