European Countries Committed €500B to Combat Energy Crisis

European countries have allocated nearly €500 billion for the energy crisis so far, according to Brussels-based think tank Bruegel on Wednesday.

Bruegel published its research on European countries' national measures to protect households and businesses from rising energy prices.

To combat increasing energy prices, different measures were put into effect in many European countries between September 2021 and September 2022.

These measures saw the UK allocate €178.6 billion in resources while Germany, Italy and France assigned €100.2 billion, €59.2 billion and €53.6 billion, respectively.

Spain, Poland and Austria designated €35.5 billion, €10.6 billion and €8.9 billion, respectively to battle rising energy bills.

Countries with smaller resources included Ireland with €700 million, Finland with €500 million, Slovenia with €400 million, Malta and Estonia with €200 million each.

Overall, European countries committed €492.4 billion to various programs against an energy crisis.

Energy ministers of EU member states will hold an extraordinary meeting in Brussels on Sept. 30 to discuss further measures to cope with the increase in electricity and natural gas prices. 

(Anadolu Agency, September 21, 2022)

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