European countries’ bill to shield households and companies from soaring energy costs has climbed to nearly 800 billion euros, researchers said on Monday, urging countries to be more targeted in their spending to tackle the energy crisis. | Reuters
On a per capita basis, Luxembourg, Denmark and Germany were the biggest spenders.
The energy spending update comes as countries debate EU proposals to loosen state aid rules further for green technology projects, as Europe seeks to compete with subsidies in the United States and China. Bruegel said governments had focussed most of the support on non-targeted measures to curb the retail price consumers pay for energy, such as VAT cuts on petrol or retail power price caps.
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