Over the past week, the European gas market was rattled by sudden price fluctuations. After a looming strike in Australia, which threatened the global gas supply, European consumers and businesses can now sigh relief. Recently released figures show a 10% drop in gas consumption in the first half of 2023 compared to the previous year. The data also indicates that importing liquefied natural gas (LNG) has surged by almost 50%, reducing the dependency on traditional gas.
From 1 October, customers of Essent and Vattenfall will benefit from reduced energy tariffs. Essent has announced a decrease in the electricity rate to €0.39042/kWh and for gas to €1.32713/m^3. This applies to all 1.2 million households with a variable energy contract. Customers with an average consumption can save up to €118 annually.
The Dutch payment service provider Adyen experienced a dramatic day on the stock market when its share value plummeted by 38%. This was the most significant daily loss since the company's initial public offering in 2018. What are the factors behind this sudden drop, and what are the consequences for the market and investors?
The Central Planning Bureau (CPB) has issued a grave warning: unless the government acts decisively, the number of Dutch citizens living in poverty could dramatically rise by 2024. This would mean that almost a million people, or 5.7% of the population, would be affected. For comparison, this figure stands at 4.8% this year.
From 1 July 2023, telecoms giants KPN and Ziggo will implement price increases in response to inflation. These changes will result in higher internet, TV and phone subscription costs. Ziggo's prices will rise by an average of 8.5, while KPN is applying a 6.4% increase, capped at 4 euros per month.