Energy price

Bulgaria is facing another increase in natural gas prices at the start of the new year, with a 9.6% rise projected for January. According to calculations by Bulgargaz, the expected price will be approximately 83 leva per megawatt-hour, excluding taxes and additional levies.

In an effort to protect consumers from soaring energy costs, Greece's Regulatory Authority for Energy (RAAEY) has announced a new initiative aimed at providing timely notifications regarding fluctuations in electricity prices. 

Greek Prime Minister Kyriakos Mitsotakis has urged the European Commission to address distortions and fragmentation in the European energy market, which led to significant discrepancies in wholesale electricity prices between Southeastern Europe and other EU countries during the summer, according to the Financial Times.

August energy prices bode ill for September's electricity prices. In the first six days of August, and for no apparent reason, the average price of electricity in the wholesale market was €128.98 per megawatt-hour, higher even than traditionally expensive Italy, where the average price was €123 per MWh.

Britain's Levelling Up, Communities and Housing Secretary Michael Gove arrives at 10 Downing Street, central London, on May 22

Britain's annual inflation rate dropped to a near three-year low in April as energy prices cooled further, official data showed Wednesday, easing a cost-of-living crunch and stoking rate cut expectations.

The European Commission said on Monday it had decided not to prolong emergency measures introduced last year to shield consumers from soaring energy prices, adding those measures had helped to contribute to a calming of European energy markets.

EU foreign ministers met in Prague this week, under the auspices of Czechia's presidency of the EU Council, to discuss calls from CEE and Nordic member states to close the bloc's door to Russians.

The European Union is preparing to take emergency action to reform the electricity market and get a grip on energy prices that have soared since Russia invaded Ukraine, senior officials have said

Energy ministers from EU member states will hold urgent talks in Brussels on September 9.

Belgium's energy minister has warned that EU countries will face "five to ten" "terrible" winters if nothing is done to reduce natural gas prices.

Calls are mounting for an EU-wide cap on the price of gas and its decoupling from the price of electricity.

G-7 leaders have agreed to explore the possibility of setting price caps on Russian oil and gas imports to try to limit Moscow's ability to fund its invasion of Ukraine, Reuters reported.