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Europe’s Rising Energy Bills Will Force Governments to Act, Citi Says

Illuminated apartments in residential tower blocks in Paris.

Illuminated apartments in residential tower blocks in Paris.

Photographer: Anita Pouchard Serra/Bloomberg

The scale of the increase in consumer energy bills will compel governments to lift pressure on households and raises the likelihood of windfall taxes, according to analysts at Citigroup Global Markets Inc.

A utility bill rise of over 3% of GDP is expected in Europe in the next couple of years as commodity prices peak, analysts Piotr Dzieciolowski, Jenny Ping and Antonella Bianchessi wrote in a note Monday.