As Europeans suffer surging energy prices, the EU is renewing its commitment to costly natural gas instead of investing in cheap renewables, it has been revealed.
A new investigation from Investigate Europe has found that lawmakers have paved the way for new cross-border pipelines, while EU auditors have highlighted a huge investment gap in green energy.
Since the beginning of 2021, wholesale gas prices in Europe have soared by more than 300%. As natural gas is often used to generate electricity alongside heat, consumers have felt the full blow of the increase. In Spain, electric bills have risen by a third so far this year. In Italy, they are expected to jump by 40% in the next quarter.
