In the past few days, the UK government has signaled that residential energy prices are set to rise by as much as 80% year-over-year. With European gas prices soaring by 33% in the past week alone and Europe grappling with the impact of Russia’s invasion of Ukraine and subsequent cuts to gas supplies, Europe’s gas prices are now more than 10 times the level in the US.
Impact will certainly be felt by businesses as well and expect more regulation across Europe like Spain’s’ mandating indoor temperature ‘s for buildings and Germany’s nighttime lighting cuts.
