August 15, 2022 12:43 GMT
CHART – Key European power price doubles in two months. Source - Bloomberg
- European power prices surging on the back of soaring gas prices and a lack of viable alternatives in the short-term.
- The markets have strong concerns over Europe’s ability to generate enough electricity this winter due to tight gas markets.
- Next-year electricity rates in Germany rose as much as 3.2% to 475 euros ($485) a megawatt-hour on the European Energy Exchange AG. That’s almost six times as much as this time last year, with the price doubling in the past two months alone.