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FX.co ★ EU energy ministers to hold urgent meeting over energy situation

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Forex Humor:::2022-09-02T07:46:11

EU energy ministers to hold urgent meeting over energy situation

On August 29, the Czech Republic called an emergency meeting to develop measures against the European energy crisis.

Czech Prime Minister Petr Fiala said that the decision to hold a meeting of the EU Energy Ministers was taken in agreement with European Commission President Ursula von der Leyen. The meeting will be devoted to "specific emergency measures to address the energy situation". Notably, during the last year, European governments have allocated €280 billion to mitigate the consequences of the energy crisis for businesses and households.

At the moment, energy prices in Europe have reached new record highs. In 2022, prices of electricity in France exceeded €1,000 per megawatt-hour. Meanwhile, in Germany, gas costs €840, adding 50% in just one week.

In the UK, energy problems are also on the agenda. This winter, households will have to pay for heating three times more than in 2021. What is more, regulator Ofgem said that in October, its energy price cap would increase to an average £3,549 (US$4,197) per year from the current £1,971.

Earlier, Norway's Energy Minister Terje Osland stated that gas prices would remain elevated for importers in the European Union.

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