EU Finance Ministers discuss rising energy prices

EU Finance Ministers will discuss energy prices during a meeting in Luxembourg, as wholesale prices for gas and electricity are surging across Europe, raising the prospect of increases in already-high utility bills and further pain for people who have taken a financial hit from the coronavirus pandemic.

Governments are scrambling to find ways to limit costs to consumers as scant natural gas reserves present yet another potential problem, exposing the continent to even more price spikes and possible shortages if it's a cold winter.

Almost 3 million European Union workers can't afford to heat their homes amid a rise in energy prices, according to a labor organization's study released last Wednesday.

The European Trade Union Confederation, which represents 45 million members, said that 15% of the EU's working poor - the equivalent of 2,713,578 people - lacks enough money to turn on the heating.