☰
HomeLiving Beyond BordersGZERO WorldSignalIn 60 SecondsPuppet RegimeGZERO World PodcastContact UsAbout UsCareersPrivacy PolicyTerms

The Graphic Truth: Natural gas prices make EU power costs soar

September 07, 2022
Carlos Santamaria
and
Ari Winkleman
The Graphic Truth: Natural gas prices make EU power costs soar
Ari Winkleman

EU natural gas prices have gone through the roof since Russia invaded Ukraine and cut off gas flows. This has sent European electric bills soaring — to the point that Brussels is ready to intervene in energy markets to protect consumers.

Some of the ideas being thrown around are a cap on the price of Russian gas to deter President Vladimir Putin from messing with the Nord Stream 1 pipeline as pushback for sanctions; a ceiling on the price of all gas used to produce electricity; a windfall tax on all energy firms to pay for consumer subsidies; and a limit on what non-gas producers can earn beyond a market price of 200 euros per MWh.

These measures aim to curb power prices and boost gas supplies before the winter, when Europeans will need more power to heat their homes. But will they be enough to fix the bloc's energy crunch before angry, cold EU residents start blaming their governments?

We compare two benchmarks for the bloc — German spot electricity prices and Dutch gas futures — over the past year.

From Your Site Articles

More from GZERO Media

From mission creep to political creep

Pro-Palestinian protesters clash with law enforcement as officials clear demonstrator encampments on UCLA's campus on May 2, 2024 in Los Angeles, CA.
Reuters

What started as a reaction to the Hamas-orchestrated massacre of Oct. 7 and the extent of the deadly counteroffensive by the Israeli military has now grown to encompass wider, more amorphous issues, writes GZERO Publisher Evan Solomon.

Who’s afraid of Mark Carney?

Jess Frampton

Carney, the former governor of both the Bank of Canada and the Bank of England, wants to be Canada’s prime minister, so he is letting it be known that he might do a better job than Trudeau while warning against the alternative.

Liberals aim to wedge on capital gains measure

Canada's Prime Minister Justin Trudeau speaks as Parliament's Question Period resumes in Ottawa, Ontario, Canada May 1, 2024.

Polling shows that most Canadians like the idea of taking more from those well enough off to need to use the capital gains exemption, which shelters some income from the sale of a business or vacation home from the taxman.

Speaker ejects Poilievre from Parliament

Leader of Canada's Conservative Party, Pierre Poilievre, speaks during a 'Spike the Hike - Axe the Tax' rally in Edmonton, on March 27, 2024, in Edmonton, Alberta, Canada.
Artur Widak/Reuters

Speaking of performative legislative moves, Canadian Conservative Leader Pierre Poilievrewas ejected from the House of Commons on Tuesday for calling Justin Trudeau a “wacko” and refusing to withdraw his remark when asked to do so by Speaker Greg Fergus.

Could Trump campaign from jail?

Former U.S. President Donald Trump walks at New York State Supreme Court in New York, New York, U.S., 30 April 2024.
Curtis Means/Reuters

Gaza is politically jamming Joe Biden while his opponent deals with personal business in a New York courtroom. This week, it looked like former President Donald Trump might even end up in jail.

Campus chaos puts pressure on Biden

Students protest where they camp outside the entrance to Hamilton Hall on the campus of Columbia University, in New York, U.S., April 30, 2024.
Mary Altaffer/Reuters

Police moved in to end disruptive Gaza protest encampments at universities across the US this week as President Joe Biden pushed for a cease-fire in the war that sparked the demonstrations.

About UsCareers PressContact Us Privacy PolicyTerms of Use
© 2020 GZERO Media. All Rights Reserved | A Eurasia Group media company.