Europe’s energy crisis: Tough winter ahead for consumers with rising prices, utility costs

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Europe is scrambling for solutions to an energy crunch as winter – a time of traditionally higher consumption – approaches. It is likely to make it through, but with some economic and social bruises, said one expert.

PARIS: Ms Aurelie Ribay, who runs a bakery selling fresh bread and pastries at a street corner in northern Paris, has been feeling the heat from rising living costs in recent months.

“Europe made a mistake, despite the IEA’s years of underlining and warning that you shouldn't rely on one single major supplier for anything,” said IEA executive director Fatih Birol. "Unless we have an extremely cold and long winter, unless there are any surprises in terms of what we have seen, for example the, Europe should go through this winter with some economic and social bruises," he added.

“So prices are going to rise as they are linked to the energy tensions in other countries, like the European market.”

 

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