High energy prices fuel uncertainty on fiscal front

EconomyMacroeconomy Tags: Budget, Debt, Energy
Photo by David Gibson via Flickr https://flic.kr/p/oATenb
Photo by David Gibson via Flickr https://flic.kr/p/oATenb

The energy crisis fuelled by the Ukraine conflict will dominate the attention of Finance Ministry officials in the coming months as uncertainty over supplies during the winter has been priced into natural gas prices, which have reached 160 euros/MWh, creating doubts about the cost of the latest energy subsidy scheme.

The new scheme, providing subsidies for electricity bills, was launched this week. It intends to cap retail bills. An amount of 850 million euros has been budgeted until the end of the year. However, the calculations were based on lower wholesale gas pr...

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