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Soaring utility bills alarm Europe, raise fears for winter

KVIA

By DAVID McHUGH and ARITZ PARRA

MADRID (AP) — Gas and electric prices are spiking in Europe. Consumers are already finding higher bills in their mailboxes and jumps in prices on wholesale markets in recent days are expected to send costs higher still. Governments in Spain, Greece and Italy are taking steps to cap the increases. But gas reserves are low amid high global demand, and Russia’s new pipeline needs regulatory approval that could take months. Then there are the rising prices for carbon emissions under Europe’s trading system. That’s part of the fight against global warming. But officials are cautioning that governments must take care that ordinary people will not face an unfair share of the burden from changing to green energy.  

Associated Press

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