Bloomberg: European Energy Crisis May Worsen In Winter

Gas prices in European countries are regularly hitting records, and a solution to the problem is not yet expected, Bloomberg writes.

The countries of the European Union are preparing for the onset of cold weather with record low gas reserves, while the increase in supplies to the region remains questionable, it is difficult to predict the next step of Russia, writes the author of the article.

With the prospect of power outages and scramble for supplies, foreboding continues to intensify even though the cold hasn’t come yet.

The author notes that energy prices in Europe are regularly hitting records, although real winter has not yet arrived.

In October 2021, a sharp jump in prices in the UK forced some industrial companies to cut production and turn to the state for help. This, according to the author, serves as a harbinger of what may happen in Europe exactly at the moment when it is trying to cope with the new wave of coronavirus.

For the authorities, this could result in increased tensions with neighboring countries, as they need to take measures to protect supplies. Meanwhile, citizens may be asked to save energy or even prepare for rolling blackouts.

source: bloomberg.com

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