In response to a surge in wholesale energy costs largely due to Russia’s conflict with Ukraine, the UK Government introduced its British Energy Security Strategy last year. One of the central commitments of this plan is to expand the UK’s…
Europe’s crisis response to the rise in energy prices
A set of emergency measures to lower soaring gas and electricity prices that are fueling inflation, impeding industrial activity, and putting consumers on the hook for exorbitant bills ahead of winter was adopted by the European Union governments on Friday.…
As Europe debates a gas price cap, energy prices skyrocket
On Monday, Europe felt the chill of rising energy prices, with France admitting it could not cover all of the extra expenses for consumers, and Britain facing a rising risk of recession. The European Union and the United Kingdom are…
Gas crisis causes European Energy Exchange power prices to surge further
Day-ahead auction prices for electricity on the European Energy Exchange (EEX), headquartered in the eastern German city of Leipzig, have hit a new record high of 553 euros per megawatt hour (MWh). When compared to the price of just 58…
Due to rising energy prices, the German economy is expected to lose $265 billion in added value
According to a study conducted by the Institute of Employment Research in Germany, the conflict in Ukraine and rising energy prices will cause Germany's economy to lose more than 260 billion euros ($265 billion) in added value by the year…