(YAHOO NEWS) – Russian gas is still flowing down pipelines to Germany, but at a dwindling rate. Now Berlin is triggering the second phase, or “alarm stage”, of a three-step emergency plan.
Thursday’s (June 23) move could allow utilities to pass on high prices to industry and households, helping to lower demand. Though Germany says that clause isn't being activated yet.
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It’s an escalation from Phase 1, which mainly involved stricter monitoring of gas flows. The alarm comes after Russian energy giant Gazprom last week cut flows via the Nord Stream 1 pipeline. In a statement, German economy minister Robert Habeck called the cut in supplies an “economic attack.”