As winter approaches, the ever-growing energy crisis brought on by the US and EU sanctions on Russia because of Ukraine besiege Europe. Sanctions on Russia have cut the supply of cheap Russian gas and raised the price of energy/electricity, which is now affecting European households and businesses. This energy crisis has highlighted the limitations of the electricity market. Many EU member states including Austria, Belgium and Italy are calling for an EU-wide intervention to halt this. The EU is now preparing to decouple the pricing of electricity from the price of gas and has recommended that member states cap the profits of energy companies and use excess profits to subsidize the rising cost of electricity.
Click here to read the full article for free
Also make sure to follow us on: