Europe’s energy bill will reach $ 1 trillion.

According to a Citigroup report by Bloomberg, assuming that the current prices of energy sources in forward markets remain stable, the total energy bill in the region will amount to approximately $ 1 trillion this year. and will be the highest in a decade. While previous spikes in energy bills have been driven by rising oil prices, the current spike is driven by rising costs for heating to provide energy to households, transport and industry.

“This time around, gas and electricity are becoming prohibitively expensive in Europe. Consumers and industry across the region will likely have to make tough energy consumption choices,” Citigroup analysts note.

Europe finds itself in an energy crisis fueled by the lowest gas stocks in at least a decade. Last year, gas prices increased by over 250 percent. due to the reduction of supplies by Russia, and the production of renewable energy is limited by little windy weather.

About Alex Marcell

He likes dogs, pizza and popcorn. Already a fanboy of Nintendo and Sony, but today throws anything. He has collaborated on sites and magazines such as GameBlast, Nintendo World, Hero and Portal Pop, but today is dedicated exclusively to Spark Chronicles.

Check Also

The appearance of the Galaxy A53 is confirmed! This is the coming king of middle-aged people

The Samsung Galaxy A53 will be a mid-range smartphone with the potential to become a …

Leave a Reply

Your email address will not be published. Required fields are marked *