Bloomberg reports record growth in electricity bills in Europe

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Bloomberg reports record growth in electricity bills in Europe
Bloomberg reports record growth in electricity bills in Europe
7 November, 15:33In the worldPhoto: 1MI
According to Bloomberg, citing data from the consulting agency VaasaETT Ltd, European consumers are paying more for electricity and gas than ever. Household accounts rose to record highs despite measures taken by EU governments.

“European households are paying more than ever for electricity and natural gas, even as governments spend billions of dollars to protect consumers from the energy crisis,” Bloomberg reported .

According to VaasaETT Ltd, in October the average cost of gas for consumers in the EU and the UK is 0.18 euros per 1 kWh, which is twice as much as a year earlier. Electricity bills rose by 67% to 0.36 euros per kWh.

The publication notes that these data became known after the EU leadership promised to allocate more than 550 billion euros to protect businesses and citizens from the energy crisis.

"If countries weren't providing this kind of support, it's likely that household bills would be even higher," said Philip Lewis , chief executive officer of the consulting firm .

Bloomberg notes that over the month, electricity prices in Europe rose by an average of 3.4% , for gas - by 2.5% . The largest increase in the cost of electricity was recorded in Dublin, where tariffs jumped by 44% , and in Rome the average cost of gas increased by 97% .

“The unseasonably warm weather in October brought relief to both consumers and governments as fewer people turned on the heat. However, prices will rise as winter approaches in Europe, which could create future problems for political leaders trying to artificially lower costs.

Lewis also notes that artificially lowering prices will cost European countries dearly if the energy crisis lasts a year or more.

“In the end, customers will forget that these prices are not real prices - they will take them for the norm, and then it will be almost impossible to remove them,” the expert noted.

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