Europe Power Firms’ Debt Soars to $1.7 Trillion on Energy Crisis
- Borrowing jumps as oil and gas prices add to pandemic burden
- Uniper among companies seeking more funds to weather storm
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European energy and utilities companies are racking up more debt to cover the cost of soaring oil and gas prices.
Their overall debt, which has been climbing since the pandemic, has swelled this year to more than 1.7 trillion euros ($1.7 trillion) -- more than a 50% jump from before 2020.