Why Europe's energy prices are soaring and could get much worse

Why Europe's energy prices are soaring and could get much worse Why Europe's energy prices are soaring and could get much worse Europe is battling a record-breaking surge in energy prices that threatens to derail the post-pandemic economic recovery, strain household incomes and even tarnish the nascent green transition. A series of market, geographic and political factors have coalesced into a perfect storm that shows no signs of abetting as the continent enters the autumn season, temperatures gradually decrease and heating becomes indispensable. Analysts are already warning the crisis, which is exacerbated by a mixture of temporary and structural problems, will be prolonged and the worst may yet to come. Prices of natural gas are skyrocketing: at the Dutch Title Transfer Facility, Europe's leading benchmark, prices have risen from €16 megawatt per hour in early January to €75 by mid-September, a hike of more than 360% in less than one year. Although the European Union is gradually cutting down on its long-time dependency on fossil fuels – renewables became the bloc's main source of electricity for the first time in 2020 – the shift has not been fast and widespread enough to contain the fallout from the crunch. Together, natural gas and coal still supply more than 35% of the EU's total production, with gas representing over a fifth. The energy mix is vastly different across the bloc: fossil fuels have a marginal share in Sweden, France and Luxembourg, but take up more than 60% of total production in the Netherlands, Poland, Malta and Cyprus. As coal, the most polluting fuel, is progressively phased out, many countries resort to natural gas as a transitional resource to act as a bridge before green alternatives, like wind turbines and solar panels, are rolled out. Moreover, gas is also used for residential heating and cooking, making the price surge even more noticeable in the final expenses of consumers. Citizens in countries like Spain, Italy, France and Poland are now facing all-time-high energy bills that add to the economic woes caused by the pandemic. The popular discontent has put governments on high alert, with ministers scrambling to come up with emergency measures, even if they're short-term and only partially effective to cushion the impact. In Italy, Roberto Cingolani, minister for the ecological transitions, has already warned Italians to expect a 40% increase in their bills over the next months. France said it will send one-off €100 payments to over 5.8 million low-income households. In Spain, the government has promised to bring prices down to 2018 levels. Madrid also sent a letter to Brussels asking for EU-wide action. "We urgently need a European policy menu pre-designed to react immediately to dramatic price surges," the letter said. But as the crisis spills over the bloc and citizens express increasing concern, it's unclear how much power the European Union can exert to rein in the excesses of a liberalised energy market whose primary source comes from outside its own borders. Why are Europe's energy prices soaring? "This is about a surge in demand for energy as we come out of the restrictions imposed by the pandemic, combined with a reduced supply of gas on the global market," Tim Gore, head of the Low Carbon and Circular Economy programme at the Institute for European Environmental Policy (IEEP), told Euronews "Then there are other factors exacerbating the problem, particularly in Europe. We have succeeded in getting coal off the grid, and that happens to coincide with a period recently where wind power has been lower because of the weather." Trouble began brewing in the winter when colder-than-expected temperatures led to a higher-than-usual power demand to warm up buildings. This, in turn, induced a marked decrease in gas reserves, which reached a worrisome 30% by March. Look please our another videos: Lets look at the stars,dear ! https://www.youtube.com/watch?v=sERdKB0iLw4 Time to dream together https://www.youtube.com/watch?v=Cd3MoggECr8 When your boyfriend plays with you https://www.youtube.com/watch?v=H-32U2TZgdQ When your boyfriend goes around the bush https://www.youtube.com/watch?v=HfLU-99pmTc Animated 3D models of tanks ( Game ready) https://www.youtube.com/watch?v=2_aUx6h1ltE Street dance girl style https://www.youtube.com/watch?v=JEdhDcaKnl0 More European citizens are being pushed into energy poverty https://www.youtube.com/watch?v=JXrdZmlImnM Polish row over EU law euronews https://www.youtube.com/watch?v=t217lr_azrk Dancing by the Sea https://www.youtube.com/watch?v=9oWQk55g4Jg Strolling Kiss bent over https://www.youtube.com/watch?v=-S-3T26NQ3M Usually strolling kiss https://www.youtube.com/watch?v=9nSAcSZ7DZo Panther Tank Game Ready 3D Model https://www.youtube.com/watch?v=eO6WbAFj3Uw