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08/09/2022 ---- 09/09/2022

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09.09.2022
THEME: ECONOMY

A united and determined EU at the extraordinary meeting of energy ministers in Bruxelles

Yesterday the European Central Bank raised three key interest rates by 75 basis points each: such drastic measure was implemented to fight the high inflation across the continent, mostly due to the ongoing energy crisis. With this premise, today September 9 the energy ministers of EU countries met in Bruxelles to discuss a series of exceptional measures to curb soaring electricity bills. The focus was on five points: (1) introduction of mandatory savings during peak hours, (2) a revenue cap for new producers, (3) capturing excess profits from fossil fuel companies, (4) liquidity aids to utility businesses, (5) a price cap on Russian gas imports. The outcome of this meeting gives to the European Commission a clearer political mandate on how to proceed: there is agreement on necessity to introduce energy saving measures, guarantee liquidity to utility businesses, capping revenues for new producers, and to take a solidarity contribution from fossil fuel companies. The ministers also “expect the Commission to propose emergency and temporary intervention including the gas price cap” said Jozef Síkela - EU minster of Industry and Trade - at the press conference after the meeting. In conclusion, in his words: “When Putin started his energy war he expected to divide us and damage our democratic societies and economies. Hi will not succeed, Europe is united against his aggression”. Concrete legislative proposals on these aspects are expected by the Commission within days.

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08.09.2022
THEME: TECHNOLOGY

Nuclear fusion is moving steps towards commercial use, experts say

In a world where energy crisis and scarcity of natural fossil fuels is more and more problematic, nuclear physics may be once again what separates present and future times. Nuclear fusion promises near-limitless clean energy by mimicking the natural reactions occurring in the Sun. In the past few years several advancements moved fusion towards commercialisation, which may now be only decades away. So far, state-of-the-art magnetic fusion devices could not yet achieve a sustainable fusion performance, which requires a high temperature above 100 million kelvin and sufficient control of instabilities to ensure steady-state operation on the order of tens of seconds. A study published don September 2 in Nature by a team from Seoul National University and the Korea Institute of Fusion Energy - experimented with the reactor at the Korea Superconducting Tokamak Advanced Research (KSTAR) - reported generation of plasmas at a temperature of 100 million kelvin lasting up to 20 seconds without edge instabilities or impurity accumulation. For the first time, a fusion regime rarely subject to disruption and sustained without a sophisticated control is shown. It thus represents a promising path towards commercial fusion reactors. KSTAR is a pilot project that feeds information and technologies into the ITER project. In addition to South Korea, ITER’s 35 member states include China, India, Japan, the EU (including the UK), Russia and the United States. ITER was propelled into force when US President Ronald Reagan and Soviet leader Mikhail Gorbachev met in Geneva in 1985, granting the project with the mandate of benefitting mankind. Multiple countries subsequently joined. In 2005, the international body agreed – after strong bids from Paris and Tokyo – to build ITER in southern France. Construction is underway in Saint Paul-lez-Durance and the ITER facility is expected to come online in December 2025. Experts say that by 2035 most feasibility questions will be answered and by 2050 the commercial sector is likely to use fusion plants.

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08.09.2022
THEME: WORLD

Queen Elisabeth II died: her son Charles III is the new King.

Elisabeth was queen of the United Kingdom and 14 other Commonwealth realms from 6 February 1952 until her death on 8 September 2022 at the age of 96. Elizabeth reigned as a constitutional monarch through major political changes such as the Troubles in Northern Ireland, devolution in the United Kingdom, the decolonisation of Africa, and the United Kingdom's accession to the European Communities and withdrawal from the European Union. Elizabeth was the longest-lived and longest-reigning British monarch in history. The Crown passes now to her son and heir Charles in an extremely difficult moment for England and the world. Rest in peace Queen Elisabeth.

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