Home Business What’s Behind Europe’s Skyrocketing Power Prices

What’s Behind Europe’s Skyrocketing Power Prices


Energy prices skyrocketed as economies emerge from the pandemic — boosting demand just as supplies are falling short. Coal plants have been shuttered, gas stockpiles are low and the continent’s increasing reliance on renewable sources of energy is exposing its vulnerability. Even with mild weather in September, gas and electricity prices were breaking records across the continent and in the U.K. Italy’s Ecological Transition Minister Roberto Cingolani said he expected power prices to increase by 40% in the third quarter. In the U.K., CF Industries Holdings Inc., a major fertilizer producer, shut two plants, and Norwegian ammonia manufacturer Yara International ASA curbed its European production because of high fuel costs, as the crunch started to hit industrial companies.

Previous articleCowboys' Micah Parsons 'trying to be the Terminator out there' with defensive approach
Next articleUse of horses along border in Del Rio, Texas, suspended


Please enter your comment!
Please enter your name here