Following the Russian war in Ukraine and the stop of delivery of Russian energy to Europe, energy prices and inflation are at an all time high. In the beginning of 2022, electricity prices increases in all but five member states, compared to the first half of 2021. As a matter of example, prices increased of 61,8% in Czechia, 59% in Latvia, and 57,3 in Denmark. In the beginning of 2022, electricity prices were highest in Denmark, Belgium, Germany and Italy.
At the European level, the debates focus on the measures needed to shield citizens and industries. While some countries argue for a EU-wide price cap on gas imports, some others are afraid this loss of revenue for energy suppliers will make them turn away form the EU market and would rather explore other options.
But what's behind the different measures, what does it mean for the different European countries, and where do they stand on the issue?