The International Energy Agency has launched an interactive tool to track government measures aimed at energy conservation and consumer support, in response to the disruptions in the global energy market caused by the crisis in the Middle East. Extraordinary measures similar to those witnessed during the COVID-19 pandemic have been reported—such as “work from home,” temperature restrictions in administrative buildings, and the promotion of carpooling in a number of the organization’s member states.
The International Energy Agency, through a specialized policy tracking tool, will provide an up-to-date overview of the measures introduced by governments to conserve energy and protect consumers from rising prices, the ways in which governments are responding to supply disruptions and increased volatility, particularly in the markets for crude oil, petroleum products, and liquefied natural gas (LNG).
The conflict, which began on February 28, significantly disrupted energy trade flows through the Strait of Hormuz, creating the largest supply disruption in the history of the global oil market, the organization’s statement said. As a result, global liquefied natural gas (LNG) supplies have also decreased by about 20%.
The IEA’s new tracker presents two main categories of actions: measures aimed at energy conservation, and those designed to support consumers. The first category includes actions such as
- Working from home: encouraging or mandating remote work
- Cooling: limiting the temperature of air conditioners
- Business travel: restricting air and car travel by government employees
- Schools and universities: closing or limiting operating hours
- Campaign: calling on or mandating that consumers limit their energy consumption
- Transportation: restricting car use, fuel rationing, reducing speed limits, encouraging the use of public transportation
The pricing measures are already familiar:
- Price caps: introduction of a maximum fuel price
- Fuel subsidies: increase in direct support
- Taxation: reduction of energy taxes
- Others: price freezes, targeted support for vulnerable consumer groups, limiting price changes, subsidies for fuel costs, etc.
The tracker will be updated regularly as new policies are announced and the situation evolves, providing timely information on how countries are addressing the crisis. The IEA has also published a list of demand-side measures that governments, businesses, and households can take to protect consumers from the pressure of oil prices and support energy security.
You can track the measures against the crisis here.
