Europe Faces Cruel Winter as Power Crisis Threatens to Swamp Aid
- Governments earmarked 10 billion euros to help households
- Energy bill increases may overwhelm assistance packages
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The surge in Europe’s gas and electricity costs threatens a cold, expensive winter for the continent, as government efforts to protect citizens look no match for the scale of the crisis.
A handful of governments have pledged about 10 billion euros ($11.6 billion) so far in subsidies and other assistance for consumers struggling with the unprecedented cost hikes. But that’s dwarfed by the 100 billion euros in additional energy bills faced by customers in the European Union this winter, according to Greek government and analyst estimates.