Recent months have seen rapid increases in wholesale prices, most notably of natural gas and electricity, but also of oil and more recently coal. While the increases are expected to be relatively short-lived, they are set to have a material impact on households and companies. Rising energy prices are already translating into substantial increases in retail energy prices for producers and consumers, though at a varying degree and pace across Member States. This feature analyses recent developments in European energy prices, their drivers and their potential impact on the economic and inflation outlook through the lens of the European Commission's Global Multi-country model.
Special issue 2 “Energy prices”
Lorenzo Frattarolo;
2021-01-01
Abstract
Recent months have seen rapid increases in wholesale prices, most notably of natural gas and electricity, but also of oil and more recently coal. While the increases are expected to be relatively short-lived, they are set to have a material impact on households and companies. Rising energy prices are already translating into substantial increases in retail energy prices for producers and consumers, though at a varying degree and pace across Member States. This feature analyses recent developments in European energy prices, their drivers and their potential impact on the economic and inflation outlook through the lens of the European Commission's Global Multi-country model.
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