European Union general discussion

[Mike88]

https://www.bruegel.org/2021/09/is-europes-gas-and-electricity-price-surge-a-one-off/

There is an EU-wide gas price surge that is harming household buying power and will potentially have bad macroeconomic effects. The article above explains the main reasons, but also the decision to see gas-burning power plants as a saviour for our energy mixes as we phase out of coal was a mistake IMO.

Nice to see that the massive electricity price spike isn't a Spain only thing

Prices here have basically quadrupled compared to last year, and are a whopping 100€/MWh more expensive than any previous peak

It's interesting that here in Portugal, we have the same prices as Spain, because of the Iberian common market, but it's basically a non issue as of now. The media reports it but it falls behind other news.

[Mike88]

https://www.bruegel.org/2021/09/is-europes-gas-and-electricity-price-surge-a-one-off/

There is an EU-wide gas price surge that is harming household buying power and will potentially have bad macroeconomic effects. The article above explains the main reasons, but also the decision to see gas-burning power plants as a saviour for our energy mixes as we phase out of coal was a mistake IMO.

Nice to see that the massive electricity price spike isn't a Spain only thing

Prices here have basically quadrupled compared to last year, and are a whopping 100€/MWh more expensive than any previous peak

It's interesting that here in Portugal, we have the same prices as Spain, because of the Iberian common market, but it's basically a non issue as of now. The media reports it but it falls behind other news.

Huh, I didn't know Portugal had the same prices as us. But yeah here it is one of, if not the biggest story right now.

Yep, the prices are the same. In Spain, I've seen it's the major headline right now. The government even approved a 3% cut in the profits of energy producers, I believe. Here, because the overwhelming majority of consumers are in the free energy market, maybe prices will not go up that much in the next few months, but those that are not, around 900,000 consumers, they will have a 3% increase in their energy bills already in October.