European support measures infographic
Graphic shows cost of energy support measure taken by countries in Europe.
GN43102EN

ENERGY

Europe reacts to household energy crisis

By Phil Bainbridge

August 15, 2022 - Support for hard-hit European households to tackle rising energy costs varies considerably, with governments focused mainly on preventing energy companies passing on price increases to customers.

Soaring energy prices have forced governments to take action to shield consumers from the worst of the increases in their utility bills, with some of the poorest countries in Europe having spent a larger proportion of GDP on energy price support.

However, the majority has been spent on preventing price rises being passed on by the energy companies to their customers, which the IMF says does not “incentivise energy savings”, and which is critical in reducing the reliance on imported fuels, particularly Russian oil and gas.

Sources
PUBLISHED: 15/08/2022; STORY: Graphic News
Advertisement