Bill increases: high bill for Europe
Bill increases: high bill for Europe.
Rising bills after the outbreak of war in Ukraine will cost European households billions.
What happened in Europe when war broke out in Russia cost households and businesses trillions of dollars. This is how the Bloomberg news agency calculated based on market data. A figure also confirmed by the Bruegel Think Tank analysis commissioned by the International Monetary Fund.
Bruegel once again calculated that between bailing out companies in difficulty and directly supporting families and businesses, European governments have spent more than 700 billion dollars to cope with higher bills, covering about 70% of the increase in prices.
Furthermore, thanks to the decrease in gas consumption and the increase in imports from third countries, especially of LNG ships, the EU countries have managed to replenish their stocks and guarantee supplies for the winter. However, both support and sourcing responses may not be as effective in the foreseeable future.
After this winter , gas reserves in the region will have to be replenished with little or no supplies from Russia, which will exacerbate competition for fuel reserves. Even if the possibility of importing liquefied natural gas increases (the reference is Germany . or even the new gasification terminal of Piombino, ed), the market should remain tight until 2026. until 2018, providing greater production capacity from the United with Qatar , which means there will be no relief from high prices.Advertisement
According to a recent analysis by the International Energy Agency, Europe could face a gas shortage of 27 billion cubic meters by the end of 2023.