Price caps and windfall taxes won’t fix Europe’s broken energy market; QNB said and noted high energy prices are likely to last at least until next spring, if not longer. European policymakers are facing an unprecedented constellation of shocks hitting the economy, including stagflation, the war in Ukraine and record-breaking heatwaves over the past summer. Together, these shocks have impacted European energy and electricity markets, QNB said in an economic commentary. Gas produces 20% of Europe’s electricity and most importantly is often the marginal producer, so gas prices set electricity prices. Indeed, electricity prices have soared in Europe and are breaking new records, rising t
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