The current energy crisis is well-publicised. The regulation of energy prices is a hot topic across Europe.

Wholesale gas prices have risen to unprecedented levels in recent months and are now trading at approximately five times their level of two years ago. A perfect storm events – including the Ukraine-Russia war, depleted domestic gas reserves, high demand from Asia, and the aftermath of Brexit – has led to price increases.

Whilst this is felt by domestic consumers, the impacts are also acutely felt by suppliers and businesses. Rising costs against sales prices remaining static, hedging deals ending and challenges in accessing finance means that as winter approaches, the energy crisis is forcing many to consider their options.

Governments are rapidly reacting to this crisis and are setting out what measures they can take to lessen the impact. Below we look at the proposals from European governments (and the EU), covering energy price caps to revenue caps, storage requirements and one off contributions and the implications of each of these measures.