The European Bank for Reconstruction and Development (EBRD) said it will provide two loans worth an aggregate €275.4 million to Bulgarian public gas supplier Bulgargaz and gas grid operator Bulgartransgaz to guarantee the country's continuity of supply for the upcoming season and beyond, in light of discontinued deliveries from Russia's Gazprom.
In August 2022, the average spot prices for electricity in Italy increased by 2.3 times compared to the average price in January 2022 – up to €537 per MWh. This is evidenced by the Trading Economics’ data.
Price caps on gas and electricity or direct subsidies won’t lower the overall energy costs for European citizens, but they are making things worse, according to an analysis produced by European think tank CEPS.
On Wednesday between 6 and 7 p.m., the exchange price of electricity in Estonia will rise to €4,000 per megawatt hour. In 5 weeks' time, European Commission regulations will set the cap at €5,000 per MWh.