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Electricity prices in Europe rise 4-5 times due to gas crisis, could still grow — Novak

Europe Materials 24 December 2021 15:42 (UTC +04:00)
Electricity prices in Europe rise 4-5 times due to gas crisis, could still grow — Novak

The price of electricity in Europe amid the gas crisis soared 4-5 times. At the same time, when European countries start using gas at new prices, energy prices may rise further, Russian Deputy Prime Minister Alexander Novak said in an interview with Rossiya 24 TV channel, Trend reports with reference to TASS.

"This artificial pressure, including political pressure, has resulted in a scenario for which European citizens are now forced to pay. Pricing has increased 4-5 times, and this is not the end, because the gas that was pumped into underground gas storage facilities is now being used at old prices, and as soon as energy resources are fully consumed at new prices, power prices will rise higher," Novak said.

He added that electricity prices in Russia are several times lower than in Europe.

At the same time, Novak noted that currently artificial pressure is being created in Europe to abandon traditional energy sources in favor of the environmental agenda.

"Today, European politicians want to resolve the issue of switching to solar and wind power and at the same time abandoning traditional energy sources. This is impossible. The current situation on the gas market once again confirms this and emphasizes that it is impossible to artificially abandon traditional energy sources," he stressed.

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