Efforts by European governments to shield households and businesses from higher energy costs have obvious benefits, not least mitigating inflationary pressures. But they carry much larger costs, which the European Commission should be highlighting, rather than ignoring.
BRUSSELS – Europeans are finally getting a breather from sky-high gas prices. Thanks to declining demand by industry and households – driven by energy-saving efforts and a milder-than-usual winter – coupled with increased alternative sources, like wind and nuclear, gas prices have dropped to levels not seen since before Russia invaded Ukraine last February. But prices might rise again – and governments should let them.
BRUSSELS – Europeans are finally getting a breather from sky-high gas prices. Thanks to declining demand by industry and households – driven by energy-saving efforts and a milder-than-usual winter – coupled with increased alternative sources, like wind and nuclear, gas prices have dropped to levels not seen since before Russia invaded Ukraine last February. But prices might rise again – and governments should let them.