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European energy crisis - European life changes greatly

Date:2022/10/21 |Author:Max lu|Vistors:63163

Direct attack on the European energy crisis: "the electricity bill has tripled, the fuel bill has quadrupled", soaring household bills, local people: live with their wallets tight

This winter may be extremely difficult for European people. Against the background that the conflict between Russia and Ukraine has affected the energy supply and that inflation in all countries remains high, Europe is experiencing a serious energy crisis.
European households and businesses have stumbled under the weight of soaring energy bills. As of October 3 local time, the Dutch TTF natural gas futures month contract has increased nearly 9 times from a year ago, soaring to 169.06 euros/MWh. When the reporter of the Daily Economic News inquired about the electricity prices of European countries, he found that the electricity prices of many countries had increased several times over the previous years, and had recently reached a historical high.
"At present, the electricity charge has tripled before April, the fuel charge has quadrupled, this winter there will be heating problems, and the food price is higher than before." Jolin, who has lived in London for 13 years, told the Daily Economic News.
Under the pressure of soaring energy prices, it was reported by CCTV Finance and Economics on October 1 that the European Council announced the formal approval of the emergency measures proposed by the European Commission to control energy prices. The three main points of the measures are: power limit, price limit and tax on windfall profits. At the same time, Europe is also trying to reduce the demand for natural gas.
"Global inflation and the Fed's interest rate increase and contraction table have increased the risk of recession in the world economy, especially in Europe. With the advent of winter, Europe will inevitably suffer worse, and the energy crisis it faces may deepen, thus greatly reducing the governance of inflation." Wang Zaibang, former vice president of the China Institute of Modern International Relations, told reporters that "the energy crisis exacerbates inflation, which means higher costs, which may prompt European capital to flee to other places with lower risks and costs."
At the same time, some critics believe that if European natural gas demand decreases less than expected, natural gas reserves are low, and coal and nuclear power are insufficient, Europe will probably experience a more serious crisis of natural gas and power shortage. How can Europe, which is already struggling with the risk of economic recession, survive this winter?

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