Millions of consumers all throughout the EuroZone have been surprised by the great increase in the energy bills they are receiving. With some reporting a tripling of their normal bill, the Reuters News Agency said that the increases have shocked millions of consumers and several energy companies have gone bankrupt.
This is because of increases in gas prices while others have passed the increases on to consumers. Families are finding it difficult to maintain heating and maintain driving costs, with increases also being forecast to impact economic growth in many countries. This is particularly prevalent due to the pandemic.
The report explained that during 2020, EuroZone families spent about an average of €1,200 annually in energy and gas bills. According to BofA analysts, it is expected o go up to €1,850, mostly due to geopolitical tensions expected to impact prices for natural gas.
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