The energy crisis triggered by Russia has cost Europe €800B.

The costs incurred by European countries to help households and companies due to the sharp increase in energy prices have increased to almost €800B, according to data from the Bruegel analytical center. EU countries have allocated €681B to tackle the energy crisis, while the UK allocated €103B and Norway €8.1B from September 2021. The €792B total is up from €706 billion in the center’s last estimate in November, as countries continue to grapple with the consequences of Russia cutting off most of its gas supplies to Europe in 2022. Germany spent the most, €270B, while the UK, Italy, and France spent less than €150B each. Luxembourg, Denmark, and Germany spend the most per capita. Spending associated with the energy crisis has reached the level of the EU’s €750B Covid-19 recovery fund. Most of the governments providing support have focused on non-targeted measures to contain the retail prices consumers pay for energy.