‘Alarm stage’: Germany Enters Phase 2 of Emergency Gas Plan

Germany entered Phase 2 of its three-stage emergency gas plan on Thursday, due to reduced supply from Russia and high prices but is not yet triggering a clause that lets utilities pass on soaring gas costs to customers, the Economy Ministry said. The Phase 2 “alarm stage” kicks in when the government sees a high risk of long-term supply shortages of gas. Facing dwindling gas flows from main supplier Russia, Europe’s top economy had been at Phase 1 of its emergency plan since end March. “We must not fool ourselves: The cut in gas supplies is an economic attack on…