European electricity prices reach record highs
Electricity prices are strongly influenced by the cost of gas used to produce electricity
What happened? European electricity prices have reached record highs amid the reduction in gas supplies from russia and rising prices for this energy resource.
Source. This was reported by the Financial Times, Kosatka.media reports.
Details. German electricity contracts for delivery next year hit the highest-ever level of quotation on the world trades. The cost increased by 13% to 325 euros per MWh. Such numbers surpassed the previous record set in December.
Since the beginning of the year, a similar contract in France has doubled to 366 euros per MWh.
What does it mean? Electricity prices are strongly influenced by the cost of gas used to produce electricity. In Europe, gas prices rose to their highest level in four months – to more than $1,800 per thousand cubic meters. They also increased by more than quadrupled since last year as Gazprom had cut its supplies.
If you have read this article to the end, we hope that means it was useful for you.
We work to ensure that our journalistic and analytical work is of high quality, and we strive to perform it as competently as possible. This also requires financial independence. Support us for only UAH 196 per month.
Become a Mind subscriber for just USD 5 per month and support the development of independent business journalism!
You can unsubscribe at any time in your LIQPAY account or by sending us an email: [email protected]
