Energy | Energy is record expensive in Europe – this is how countries support their residents who are suffering from hardship

in Europe more and more bills are dug out of mailboxes as energy prices rise.

European Union member states fit in June that they will each reduce gas demand by 15 percent by winter, in order to ensure sufficiency and keep households warm through the cold months. The agreement also included the possibility of a mandatory drop in gas demand.

EU countries aim to store around 80 percent of their winter energy needs by November as a buffer for the winter demand spike.

However, each European country is responsible for its own energy policy. Hundreds of billions of euros have already been injected across Europe to compensate for increased energy prices.

News agency Reuters listed the meanswith which European countries have supported residents struggling with high energy bills.

Germany lowers fuel prices and public transport fees

European Germany, which belongs to the big powers, pays subsidies to its households and lowers the price of fuel and public transport fees.

Germans who pay income tax receive a 300-euro grant from the state for energy bills, and families receive an additional 100-euro for each child. Low-income families receive a double child bonus.

In addition, during the years 2023–26 about 12 billion euros are invested annually for renovating old buildings to improve energy efficiency.

October 1st Germany though imposes a surcharge on the purchase price of gas To support Uniper and other gas importers, which will last until April 2024. The price increase will cost the average four-person household nearly 500 euros more each year.

France has set a ceiling on electricity price increases

France has supported companies’ energy bills with around 25 billion euros during the spring and summer, the French Minister of Finance Bruno Le Maire evaluate.

The state has promised to set a four percent cap on the rise in the regulated electricity price for 2022. To achieve this, the government ordered the state energy company EDF to sell nuclear power cheaper than its competitors.

Italy distributes a 200 euro citizen allowance

Italy approved a support package of around 17 billion euros at the beginning of August, in addition to the 35 billion euros already approved earlier this year. The purpose is to help those suffering from high prices.

According to a document seen by the news agency Reuters, the government plans to extend the 200-euro citizen support paid in July to those low- and middle-income Italians who were not previously granted it.

In addition, Italy continues the fuel tax cut until September 20 and campaigns for a Europe-wide gas price cap.

Britain distributes an energy subsidy of at least 470 euros to households

Britain approved a support package of almost 18 billion euros in May, in which every household will receive a subsidy of 400 pounds, or about 470 euros, to pay energy bills in October. Low-income households also receive a subsidy of 770 euros.

Britain has set a price cap on contracts for the most used energy sources. The new roof will be installed in October.

Market researcher Cornwall Insight predicts that the average annual energy bill in Britain will jump to around 3,600 euros in October and around 5,000 euros in January. Earlier this year, a typical bill was around 1,500 euros.

Prime minister Boris Johnson announced that decisions on significant support measures will be left to the new prime minister. Another of the successor candidates, foreign minister Liz Trusshas promised to temporarily postpone the environmental and social fees that inflate energy bills.

Spain supports fossil power plants

Spain has started temporarily subsidizing fossil fuel power plants. The support will be extended until the end of May 2023.

However, the state said that it maintains its long-term goal of increasing the production of renewable energy.

Spain has also cut several taxes and announced 16 billion euros in business and household aid.

Norway finances 80 percent of energy bills that exceed a certain price

Nordic Sweden and Denmark are preparing a support package worth more than four billion euros for those affected by high prices. The total size of Sweden’s aid package is around 3.4 billion euros, and Denmark’s is more than 700 million euros.

The Swedish government said on Wednesday that it will present a support package of at least 30 billion Swedish kronor (about 2.84 billion euros) to compensate for the rise in electricity prices for households.

Norway, on the other hand, finances 80 percent of energy bills that exceed a certain price. The support will rise to 90 percent from September and will continue until at least March 2023.

Greece has also approved an aid package that covers about 90 percent of the increase in energy bills for households and 80 percent for small and medium-sized companies. In total, Greece has spent around seven billion euros on energy subsidies during the year.

Gasoline attempts have been made to limit the price increase in, for example, Hungary and Bulgaria.

Hungary artificially set the price of gasoline at around 1.18 euros per liter, which is much lower than the market price. However, this led to huge demand, which is why the government had to limit the right to a reduced price.

Hungary also banned fuel exports in order to meet domestic needs.

Bulgaria, on the other hand, gives a discount of around 0.13 euros per liter for gasoline, diesel, liquefied gasoline vapor and methane from July until the end of the year.