Why gas price caps and consumer subsidies are both extremely costly and ultimately futile – Daniel Gros – CEPS Commentary
The EU is facing an energy crisis. Russia’s de facto embargo on gas exports has sent spot prices on Europe’s exchanges to unprecedented levels. The prices paid by consumers have also increased, albeit much less so than the spot prices. Prices for households have doubled in many Member States, while gas spot prices on the exchange have increased by a factor of 10 or more.