The energy crisis that has sent inflation skyrocketing around the world is worsening every week, leaving stockbrokers with a challenge to find where to put their money, Bloomberg reports. The nightmare scenario that has unfolded this year has already taken its toll on stocks, which suffered a disastrous first half. A rally over the summer […]
Tag: energy crisis
K. Skrekas: Support is also coming for households with natural gas
According to the Bruegel institute, Greece is the first among EU member countries in supporting housewives with subsidies reaching 3.6% of the country’s GDP, Energy Minister Kostas Skrekas told SKAI. He noted that €1.2 billion of the September subsidy will come from the new mechanism for recovering excess revenues from power companies, which go into […]
Germany is preparing for the nationalization of Gazprom Germania
The German government has created a holding company to take over the eventual nationalization of Gazprom Germania, the Russian energy giant’s subsidiary in Germany, which was practically abandoned in April, according to a report published in today’s Welt am Sonntag newspaper. . Germany’s energy watchdog had assured in April that it would manage the company, […]
Germany extends aid package for energy-intensive businesses
Germany’s economy ministry said today it is extending the deadline for a 5 billion euro aid package for energy-intensive businesses and finalizing details of a program intended to help them deal with soaring electricity costs, Reuters reported. Companies can apply until the end of September for subsidies of up to 50 million euros for increased […]
Andelsblatt: How Germany is trapped in the energy price trap
Dramatically rising electricity and natural gas prices are increasingly becoming a competitive disadvantage for businesses in Germany, reports Handelsblatt. “German industry is currently paying a purchase price for natural gas that is eight times higher than the purchase price in the US,” says Christof Bauer, energy expert at TU Darmstadt. Bauer’s calculations, which are exclusively […]
France maintains the highest electricity prices for next year as well
France will keep electricity price caps in place next year in an effort to protect households from price spikes, Bloomberg reports. Prices will be “held down” in 2023 and consumers will not be asked to pay the difference between rising costs and current price caps, Finance Minister Bruno Le Maire said today, according to France […]
Europe – Britain: No ironing, daily shower, food in the oven – Millions of households threatened with energy poverty
Forget ironing, turn off the oven and take a shower at work – Europeans are trying to cut down on energy use, but their electricity bills are getting higher and higher. As wholesale gas and electricity prices have soared, millions of people in Europe now spend a very large proportion of their income on energy. […]
Sanchez is in Germany on Tuesday for a meeting with Soltz on energy issues
Spanish Prime Minister Pedro Sanchez will travel to Germany on Tuesday where he will meet with Chancellor Olaf Scholz and attend a meeting of the German government, his office said today, as the energy crisis deepens in Europe due to the war in Ukraine. In recent days, a rapprochement has been observed in the positions […]
EU: Towards an emergency meeting of the 27 energy ministers amid soaring electricity prices
The European Union will convene an extraordinary meeting of the energy ministers of its 27 member states, in order to seek pan-European solutions to the soaring electricity prices. The Czech Republic, which holds the EU’s rotating presidency, will convene the summit to discuss “concrete and practical” measures to tackle the energy crisis, with the agreement […]
Soltz: We will not leave anyone who needs support
The German government is working “day and night” on the third package of support measures. Facing a new European Recovery Fund for energy, modeled after the pandemic? The dramatic increase in energy prices that has brought about a “tsunami” in the cost of living is creating insecurity for the citizens of Germany, who have to […]
