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Energy Crisis

Can Europe’s $375 Billion in Relief Keep People Warm Enough?

  • Aid keeps coming as Russia tightens supplies of natural gas
  • Varying strategies risk fueling inflation and falling short
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Gas Prices Surge as Russia Keeps Crucial Pipeline Closed
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European households will benefit from at least 376 billion euros ($375 billion) in government aid to stem whopping energy bills this winter, yet there’s a risk the smorgasbord of spending won’t bring enough relief.

The divergent solutions to Russia’s squeeze on natural gas supplies may end up being only temporary fixes since wholesale prices are set to remain far above historical norms. In August, the average price offered to domestic customers in the largest European countries was 67% higher than a year ago for electricity and 114% higher for gas, according to consultancy VaasaETT.