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Europe has weathered the energy crisis that followed Russia's invasion of Ukraine so far, but businesses and households are already thinking about how to get through the next winter.
EU leaders meeting in Prague wrestled to come up with a plan to tackle soaring energy costs as they struggle with the fallout from Russia's war on Ukraine.
Inflation jumped after countries emerged from Covid lockdowns and it has soared since Russia invaded Ukraine, with the IMF expecting consumer prices to rise by 8.3 percent globally this year.
The European Commission has set out proposals to bring down the soaring price of gas and electricity in the EU, notably by taxing excess profits of power producers.
The EU plans a "deep and comprehensive" reform of the electricity market to cope with an energy crisis sparked by Russia's war in Ukraine, European Commission chief Ursula von der Leyen has said.
European electricity prices have soared to new records, presaging a bitter winter as Russia's invasion of Ukraine inflicts economic pain across the continent.
European Union nations are launching power saving drives as they seek to reign in soaring gas and electricity bills and conserve ever-more scarce resources following Russia's invasion of Ukraine.
Russia's gas cuts to Europe have prompted a clutch of countries to revert to burning coal, raising concerns as the EU seeks to become climate neutral by 2050
Since Russia's invasion of Ukraine, the list of Europe's woes keeps growing as it battles rising food and energy prices and continued disruption caused by the Covid-19 pandemic