Europe’s surging energy costs
------------------------------------
Benchmark European gas prices have rocketed by more than 400% since September 2020 due to low stock levels, reduced LNG exports from Russia, and high demand in Asia
------------------------------------
Natural gas futures (€ per megawatt hour at month end, Dutch TTF)

Norway: State-controlled Equinor to increase gas supplies to Europe by two billion cubic metres – about 2% of annual exports to continent

Germany: Around 310,000 households face 11.4% increase to their gas bills – extra €172 to typical €1,516 annual cost

Italy: Imports provide more than two-thirds of energy needs. Rome plans €3 billion
in short-term measures to cut consumer prices

Spain: Consumers face 35% annual rise in power bills. Plan to raid energy companies’ profits, passing €2.6 billion windfall to users 

France: €100 subsidy to 5.8 million low-income households that receive energy vouchers

UK: Six energy firms collapse, affecting nearly 1.5 million customers. Households face move to potentially more expensive providers

Greece: Subsidies to most households by end of year. One-off payments to low income earners
------------------------------------
0 10 20 30 40 50 60 70

Sep 24: 13.567
13.293
14.005
16.759
17.297
16.759
19.100
23.325
25.077
34.516
40.679
50.338

Sep 22: 71.692

2020-21: Gas price surges by 428%

Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

------------------------------------
Sources: Financial Times, Intercontinental Exchange, Reuters
Picture: Getty Images © GRAPHIC NEWS