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Bloomberg expects an energy collapse in Europe at the end of the year

Bloomberg expects an energy collapse in Europe at the end of the year:

Bloomberg columnist Javier Blas has predicted that Europe will be hit by major shocks at the end of 2022 due to rising energy prices.

“The energy crisis is causing more and more concern among the leadership of the European Union. The situation in Ukraine and sanctions against Russia have led to high prices for oil, gas and coal – the most important sources of energy for Europe. Already in late 2022 – early 2023, the electricity market will reach its peak, and it will be The consequences for families and small businesses as they are: Many will simply drown.”

Blass considered that Western countries are making a mistake now: they focus on the lack of oil and do not pay attention to the future shortage of electricity. Therefore, in the near future, Europeans will face higher prices for utilities.

According to him, the situation with electricity has become more complicated by the slowdown in the performance of European nuclear power plants. In addition to all these problems add to the constant increase in the cost of living. Therefore, European countries will soon spend billions to support the population.

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