FILE PHOTO: European Union flags fly outside the European Commission headquarters in Brussels, Belgium, March 1, 2023.REUTERS/Johanna Geron//File Photo
Brussels: Electricity costs in Europe are forecast to increase by as much as 27% next summer on the back of rising gas prices and lower nuclear and hydro power production.
Higher carbon contracts will also help make fossil-fuel generation more expensive in 2025, according to analysts.
