Researchers said on Monday that the cost for European nations to protect people and businesses from rising energy costs has risen to nearly 800 billion euros and urged nations to be more strategic in their spending to address the energy crisis.
Since September 2021, countries in the European Union have set aside or allocated 681 billion euros to address the energy crisis, while Norway and the United Kingdom have each contributed 8.1 billion euros.
The 792-billion-euro total compares with 706 billion euros in Bruegel’s last assessment in November, as countries continue through winter to face the fallout from Russia cutting off most of its gas deliveries to Europe in 2022.
Germany topped the spending chart, allocating nearly 270 billion euros – a sum that eclipsed all other countries.