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Industry regulators warn that large parts of the U.S. and Canada power grid serving around 180 million people could face power shortages during extreme cold this winter. The Federal Energy Regulatory Commission cautioned that millions of Americans in New England would face an elevated risk of heat and power shortfalls if a plan to shutter a major natural gas terminal proceeds. Two-thirds of North America could face power shortages, and power grids supplying more than half of the US population may run short of electricity during an extended cold snap or severe storm. The warnings come amid concerns over the impact of U.S. sanctions on Russia's Arctic LNG 2 project, in which French oil major TotalEnergies is a shareholder. France is assessing the impact of the sanctions, but sees no big risk to European gas supply. The situation highlights the ongoing fragility and underinvestment in the power grid, despite promises by politicians and regulators to strengthen it following deadly blackouts in recent years.
