By Dimitris Gatsiou The government is pleased to welcome the figures announced for the budget for the period January-July. At a critical juncture of global economic turmoil, courtesy of Russia’s invasion of Ukraine, the data, as it came to light, shows a 20% excess in both net and tax revenues, which translates into an excess […]
Tag: energy crisis
Gazprom warns of natural gas close to 400 euros per megawatt hour
Russian state-owned Gazprom said today that winter gas prices could jump by as much as 60% to 400 euros a megawatt hour as its exports and production continue to fall due to what it says are Western sanctions. “European natural gas prices have reached $2,500 per 1,000 cubic meters (€240/MWh). According to conservative estimates, if […]
Which energy price index in Europe doubled in two months – The energy crisis is deepening
Electricity prices soared to a new record high on Monday amid a rise in corresponding natural gas prices, reflecting the depth of the energy crisis that threatens to plunge the Old Continent into recession. The price of energy for delivery next year in Germany thus increased by up to 3.7% during the day, to 477.50 […]
The price of electricity in Europe is breaking the charts – The energy crisis is deepening
LAST UPDATE: 10.52 Electricity prices in Europe soared to a new record high on Tuesday amid a rise in corresponding natural gas prices, reflecting the depth of an energy crisis that threatens to plunge the Old Continent into recession. Germany’s electricity price, a benchmark for the European market, hit a new all-time high on Tuesday […]
The price of electricity in Europe is breaking the charts – Up to 502 euros per megawatt hour
LAST UPDATE: 13.07 Electricity prices in Europe soared to a new record high on Tuesday amid a rise in corresponding natural gas prices, reflecting the depth of an energy crisis that threatens to plunge the Old Continent into recession. Germany’s electricity price, a benchmark for the European market, hit a new all-time high on Tuesday […]
Europeans are marching emotionally unprepared for what is coming this winter
By Maria Tadeo The mayor of Vigo in Galicia, Spain has already started preparing for the town’s annual Christmas extravaganza. And this despite the effort of the Spanish government to reduce electricity consumption in cooperation with the European Union. Turning off the lights, the mayor argues, would give Vladimir Putin a victory if the holiday […]
What is on the table for the TIF package
By Tasos Dasopoulos The replenishment of the loss of income due to the accuracy but also permanent interventions, which will lead to a permanent increase in wages and pensions, is the double objective of the economic policy as will be analyzed in TIF by the Prime Minister for the rest of 2022 and 2023. These […]
Germany: 480 euro surcharge on households for electricity due to ‘natural gas levy’
The kilowatt hour will be increased by 2,419 euros from October 1 for residential and business customers, due to the so-called “natural gas levy”, the German Ministry of Economy announced today. According to estimates by the BILD newspaper, the levy could mean an additional burden of around 480 euros per year (excluding VAT) for a […]
Eurozone: Recession the main scenario of the analysts now
The risk of a recession in the euro zone is now at its highest level since the pandemic hit in November 2020, as the energy crisis threatens to further push up record inflation, according to economists polled by Bloomberg. In particular, the probability of GDP contraction in two consecutive quarters – the technical definition of […]
New permanent and extraordinary measures amounting to 4.5 billion for the two years 2022-2023
By Tasos Dasopoulos Continuing to support citizens with measures amounting to 3 billion euros until mid-2023 and new, permanent interventions amounting to more than 1.5 billion euros for the next year is planned by the economic staff despite the impending peak of the energy crisis in the autumn and of increasing the cost of money. […]
