News
Factbox: Europe's efforts to shield households from soaring energy costs
Aug 15 (Reuters) — Europe is facing a sharp rise in power bills driven by sky-rocketing gas prices, as war in Ukraine and European sanctions on Russia heighten concerns over the security of gas supplies. Britain has a price cap on the most widely used household energy contracts.
Related Knowledge Center: Energy security and pricing
State of Play
The United States achieved net energy independence in 2020, but that has not insulated the nation from the roiling of energy markets in the wake of the Russian invasion of Ukraine. Europe has been a large consumer of Russian natural gas, and the effort to wean itself, with the help of the United States, has strained markets and endangered global efforts to address the climate crisis.