European Council President Charles Michel said EU leaders agreed to cooperate on energy after a long day of talks. However, a consensus was not reached on capping gas prices.
Few sectors are as energy-dependent as the aluminum industry. Rising electricity costs are already leading to production cuts.
Rampant inflation and soaring energy costs have caused German consumer sentiment to drop according to new market research, with no indication just yet that inflation will improve soon.
European energy ministers are expected to agree on Friday to a plan to fight surging electricity and gas prices.
On Sunday, German Chancellor Olaf Scholz presented the third package of its kind since Russia's invasion of Ukraine. We take a closer look at the raft of measures that will bring financial support to cash-strapped German households and the windfall tax on energy providers that's due to finance part of it. Meanwhile, faced with a climate crisis in addition to an energy crisis, we see how the US town of Commerce, Georgia is banking on green technology for the future.
23 Mar 2022
Western sanctions on Russia are driving up energy prices around the world: Will we still be able to heat our homes next winter? Are coal and nuclear power set to make a comeback in many countries? We ask the Bruegel Institute's Georg Zachmann.