Finland, together with Sweden and Germany, is investing billions to stabilize the energy market

The Finnish government has agreed to launch a €10 billion emergency support package to help utilities hit by fluctuations in the country’s energy markets.

Prime Minister Sanna Marin said at a press conference in Helsinki today, Sunday, that the support consists of loans and loan guarantees and will help energy companies such as Fortum Oeje meet their short-term liquidity needs, she said. Agency Bloomberg.

The Finnish move follows neighboring Sweden’s decision earlier Sunday to provide up to 250 billion kroner ($23.2 billion) in loan guarantees to electricity producers to avert the risk of a financial crisis.

Meanwhile, the German government approved on Sunday a 65 billion euro (roughly $65 billion) plan to ease pressure on households in light of the energy crisis that has driven up prices.

It comes at a time when Europe is seeing a significant rise in the cost of living, especially for energy, coinciding with reduced supplies from Russia and rising global prices, heralding a severe winter crisis at home. old continent.

Source: Sputnik

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