Germany nationalized gas importer Uniper (UN01.DE) on Wednesday and Britain capped the wholesale cost of electricity and gas for businesses, in Europe’s latest moves to keep the lights on and heaters running this winter as the war in Ukraine escalates. Russian President Vladimir Putin added to the price pain in global energy markets, sending oil and gas prices higher by announcing a partial Russian military mobilization, threatening to tighten global fuel supplies even further.. European gas and power prices have rocketed as Russia has cut fuel exports to retaliate for Western sanctions over its invasion of Ukraine, leaving consumers struggling with sky-high bills and utilities grappling with a liquidity crunch. read more “We have stepped in to stop businesses collapsing, protect jobs, and limit inflation,” Britain’s finance minister Kwasi Kwarteng said. While many businesses are grappling with higher bills, more than 20 British power […]

Posted in: EU