A massive U.S.-style blackout is unlikely in Europe but cracks are appearing in the region’s electricity system which struggled to cope with soaring power use during a heatwave this summer. Sweltering temperatures caused blackouts in Italy and power supply problems elsewhere, a situation some analysts see becoming more frequent as liberalization forces companies to cut costs and delay investments. “The dilemma is the degree to which companies need to cut the fat out of the system to be efficient,” said David Shaw, an analyst at A.T. Kearney in London. “But you don’t want to cut too far,” he added. The largest blackout in U.S. history plunged New York and other major U.S. and Canadian cities into darkness. Millions of people were without electricity on Friday morning as companies struggled to restore power supplies. Full Story
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