The total debt of European energy companies exceeded € 1.7 trillion. According to Bloomberg, enterprises are forced to take loans to cover expenses related to rising gas prices and oil.
The total debt of energy and communal companies in Europe, according to experts, exceeds € 1.7 trillion.
The agency shared data on a change in the total debt of energy and communal companies in Europe. According to information, in the interval from the fourth quarter of 2019 to the third quarter of 2022, their total debt is approaching two trillions of Euro.
Economists associate this with an abnormal increase in energy prices. Companies are forced to take loans to cover their expenses.
Their debt consists of three elements – bonds, loans and pipelines. As Bloomberg notes, duty began to grow actively with the beginning of the pandemic and continued growth after the start of the war in Ukraine. € 0.6 trillion – it was this amount that the debt increased in 2022.
Experts warn European governments about a difficult winter and an energy crisis, from which Europe will not be able to get out for at least a year.