Investments in renewables will stabilise energy prices

Investments in renewable energies will stabilise energy prices in the future, EU energy commissioner Kadri Simson said on Friday.

"From our side, we are monitoring the prices very closely," Simson told a news conference when asked about the cost of rising energy bills.

"There are several solutions that will help mid-term and long term... Investments in renewables will stabilise the prices in the future," she said. Households across Europe face much higher winter energy bills due to a global surge in wholesale power and gas prices and consumer groups have warned the most vulnerable.