In a major shift of energy policy, the European Commission is looking to drastically reduce Europe's imports of fossil fuel from Russia following Russia's military actions in Ukraine. S&P Global Ratings believes this is unlikely to end well for European gas players, mainly because other gas sources cannot replace the large volumes from Russia. What's more, S&P Global Ratings believes some energy-intensive industrial sectors like fertilizers, steel, and paper could face temporary plant closures, hampering the eurozone's GDP growth, with a potential knock-on effect on utilities.
Review S&P Global Ratings’ pressing questions for utilities on this paradigm shift.
