EU Unveils Ambitious Plan to Slash Energy Bills by €2.5 Trillion

Three years after Russia invaded Ukraine, the European Union is still dealing with the economic fallout. The resulting energy crisis has continued to reverberate through European markets, and blisteringly high energy bills are drastically impacting consumers throughout the block. It is estimated that approximately 47 million people in EU countries are currently living in energy poverty, a 57% increase since 2019. While ‘energy poverty’ has no universal definition, the term is commonly used to refer to households that cannot afford to…