The price of natural gas has reached a new all-time high on the European market, as sanctions on Russian energy are discussed by the United States and the European Union in the face of the invasion of Ukraine.
Fear of disruptions to exports from Russia, which provides 40% of European gas imports, pushed Europe’s market benchmark, the Dutch TTF, to a new record high of 345 euros per megawatt hour (MWh). Around 09:05 GMT (10:05 in Paris), he won 45% to 280 euros.
Faced with rising energy prices, the French government plans to spend around 22 billion euros on measures to support purchasing power, Economy Minister Bruno Le Maire said on Monday. .
The gas price freeze should cost “probably 10 billion euros over the whole of 2022” against 1.2 billion euros budgeted so far, he explained on RMC / BFM TV .
“The cap on electricity prices” cost “8 billion euros and the inflation compensation 4 billion euros”, detailed the minister. “The total bill amounts to more than 20 billion euros on the sole protection of our compatriots against soaring energy prices”, he concluded.