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Many countries are trying to help consumers amid the rising prices, with France unveiling a series of measures including an "energy check" to help people pay their increasing bills. In Germany and Spain, prices in September were three or four times the averages seen in 20, the IEA said. In 2018, it was around 45% of the energy used for heating homes in the bloc. Natural gas not only represents a fifth of Europe's electricity but is also used for heating and cooking.
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How could it impact consumers?Ĭonsumers who do not have a fixed-price contract on heating and electricity are likely to see increases in their energy bills.
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It's because demand hasn't been adjusted to this," he added. "It's not because we wanted to phase out fossil (fuels) too quickly. Otherwise, we will have those blackouts coming off in Europe," said Bros at Sciences Po. "If we want to put more intermittency in the system, which is renewable wind and solar, then we need to have more capacity mechanism with gas-fired power plants available or a storage capacity which we are lacking on the technological basis. "The long term response to the current situation in Europe must be to speed up the deployment of renewable energy sources, but also of energy efficiency solutions, which are very important not to diminish the demand for heating in residential or in our houses," he added.īut many have said that demand will have to adjust during this transition period to more renewables as well.