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European power prices shatter records as energy crisis intensifies
CNN ^ | 8/29/22

Posted on 08/29/2022 4:42:38 PM PDT by EBH

London (CNN Business)Power prices in Europe continue to smash records, intensifying the region's energy crisis and fanning fears about access to electricity and heating as the weather begins to cool.

German power prices for next year, which are considered Europe's benchmark, briefly jumped above €1,000 ($999.80) per megawatt hour on Monday before falling back to €840 ($839.69) per megawatt hour.

"This is not normal at all. It's incredibly volatile," said Fabian Rønningen, a senior analyst at Rystad Energy. "These prices are reaching levels now that we thought we would never see."

Prices have jumped since Russia's Gazprom announced that it would shut down the Nord Stream 1 gas pipeline for three days starting Wednesday to perform maintenance work, reigniting fears that Moscow could completely shut off gas to Europe, which is racing to stockpile supplies ahead of the winter.

When the crucial pipeline went offline for repairs for 10 days in July, many policymakers feared it wouldn't come back. When Russia did restart operations, flows were significantly reduced.

France's nuclear sector, which provides about 70% of the country's electricity, is also struggling with lower output, pushing up the country's energy prices.

The Czech Republic announced Monday that it would convene an emergency meeting of Europe's energy ministers in Brussels next week as the region hunts for solutions. Businesses are concerned they may have to periodically halt operations over the winter if power is in short supply, while households could struggle to pay soaring heating bills. The fallout could trigger a deep recession.

(Excerpt) Read more at cnn.com ...


TOPICS: Business/Economy; Foreign Affairs; Government; News/Current Events
KEYWORDS: energy; europe
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1 posted on 08/29/2022 4:42:38 PM PDT by EBH
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To: EBH

What doesn’t socialism ruin? (obviously rhetorical)


2 posted on 08/29/2022 4:44:44 PM PDT by neverevergiveup
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To: EBH

These Days

📖


3 posted on 08/29/2022 4:46:56 PM PDT by Varsity Flight ( "War by the prophesies set before you." I Timothy 1:18. Nazarite prayer warriors. 10.5.6.5)
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To: EBH

I wish there was a gif if the Germans at the UN laughing at Trump for saying they were too dependent on Russia for fuel.


4 posted on 08/29/2022 4:53:40 PM PDT by pepsi_junkie ("We want no Gestapo or Secret Police. FBI is tending in that direction." - Harry Truman)
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To: EBH

Hey, didn’t the Dems tell us they were going to bankrupt Russia for the Ukraine war?

If the Europeans are paying 10 TIMES more for energy (natural gas) they are buying from Russia Russia Russia, then how is it that Russia will go bankrupt?

Just like always, 180 degrees from what they say.....In effect they are paying Russia way more for less, to ENABLE it to wage war, while the west sends the old stock military hardware (thus making room for more to replenish stocks), and $$$ to ukraine which i am sure will flow back to the US (certain persons campaigns and friends) somehow.


5 posted on 08/29/2022 4:54:47 PM PDT by BereanBrain
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To: neverevergiveup

Blame it on the Russians. The Green Energy idiots have nothing to do with it.


6 posted on 08/29/2022 4:54:58 PM PDT by mosaicwolf
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To: EBH

Maybe European countries should just follow the lead of our brilliant president, and forgive the first $10,000 of power debt.

I kid, of course. But I wouldn’t be surprised if those semi-commies actually tried something like that.


7 posted on 08/29/2022 4:55:36 PM PDT by Leaning Right (The steal is real.)
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To: Leaning Right

They are looking at price controls...


8 posted on 08/29/2022 4:56:32 PM PDT by EBH ( 1776-2021 May God Save Us.)
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To: EBH

Ain’t green great?


9 posted on 08/29/2022 5:09:49 PM PDT by libertylover (Our biggest problem, BY FAR, is that almost all of big media is agenda-driven, not-truth driven.)
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To: EBH

The $1 per kwh is on the order of what’s needed to meet the CLIMATE AGREEMENTS that virtually all Western countries have agreed to.

Also, gasoline will need to be about roughly $20/gallon to force the needed behavior changes, and at least $50/pound for beef to achieve the same.

We can make fun of them for ‘being idiots’, but like it or not, the UK has already hit the $1 mark for electricity and the rest of Europe is closing fast.

Couple that with their $10 gasoline and the killing off of cattle and you’ll see it’s no joke - they have the power they need and they FULLY INTEND to use it.


10 posted on 08/29/2022 5:14:39 PM PDT by BobL (The Globalists/Neocons desperately want Ukraine to win...makes it easy for me to choose a side)
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To: EBH
France's nuclear sector, which provides about 70% of the country's electricity, is also struggling with lower output...

Anyone here know why a nuke plant would have lower output? Other than intentionally.

11 posted on 08/29/2022 5:15:43 PM PDT by TangoLimaSierra (⭐⭐Public hangings will wake 'em up.⭐⭐)
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To: EBH

Reading between the lines and looking ahead I know our own stockpile of LNG in the USA is the lowest it has been in 35 years. Add that to the necessity to help Europe by sending some of our LNG even though we too are low will cause prices in the USA to shoot up as well.

Not much can be done for those with LNG fed central heating except possibly some electric room heaters which are expensive to run. Don’t use Propane heaters! For those with LNG stoves/ovens I would recommend getting a hot plate or two so you can at least use a frying pan, stew pot, or kettle to reduce the use of the LNG if it comes to that. Probably not a bad idea anyway as a back up.

Last but not least; if you can afford it get at least a 4300 watt gas or diesel powered generator with lots of gas stored. Yes; you can store gas up to two years with Star Tron gas additive and it will even restore old gas up to a point. Pay an electrician to put a plug in outside the generator plugs into that goes to the breaker box so he can install a safety switch to prevent current from the generator being back fed into the electric grid that can cause all kinds of problems. Many people who live with routine power outage have fancy generators that automatically come on and switch from grid to gen and visa versa but those are thousands of dollars, very quiet, and usually diesel with large tanks because diesel fuel stays good for years and years.

The smaller genny’s won’t power everything like electric water heaters but it will power the basics like small freezers, fridges, lights, tv, computer and modem/router, fans, etc. You could run the genny at night to power the electric water heater while you slept but your neighbors might get mad.

https://www.amazon.com/Star-brite-Tron-Gasoline-Additive/dp/B001444VEM/ref=sr_1_4?crid=2E47FHG94CAX1&keywords=gas+saver+additive&qid=1661818112&s=instant-video&sprefix=gas+saver+additiv%2Cinstant-video%2C170&sr=1-4


12 posted on 08/29/2022 5:18:55 PM PDT by Boomer ( George Orwell: “During times of universal deceit, telling the truth becomes a revolutionary act.” )
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Is gorebull hoaxing going to go away if there is a particularly harsh winter with no oil?


13 posted on 08/29/2022 5:28:34 PM PDT by dsrtsage ( Complexity is just simple lacking imagination)
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To: EBH

Go ask Gretta, when its cold and dark.


14 posted on 08/29/2022 5:30:04 PM PDT by Voltage
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To: neverevergiveup

the LEFT is why we cannot have nice things

like heat and food


15 posted on 08/29/2022 5:40:28 PM PDT by joshua c (to disrupt the system, we must disrupt our lives)
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To: TangoLimaSierra

yeah weird

another article said that climate change had caused the rivers to dry up forcing nuclear plants to go offline

complete and utter insanity


16 posted on 08/29/2022 5:44:03 PM PDT by joshua c (to disrupt the system, we must disrupt our lives)
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To: dsrtsage

perhaps

but for sure the people will be warming themselves by the bonfire


17 posted on 08/29/2022 5:46:56 PM PDT by joshua c (to disrupt the system, we must disrupt our lives)
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To: EBH

EVs burn forever

great way to keep warm


18 posted on 08/29/2022 5:47:53 PM PDT by joshua c (to disrupt the system, we must disrupt our lives)
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To: BereanBrain

russia has original wealth, natural resources


19 posted on 08/29/2022 5:48:51 PM PDT by joshua c (to disrupt the system, we must disrupt our lives)
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To: EBH

The UK needs to start mining coal again.


20 posted on 08/29/2022 5:54:54 PM PDT by Fai Mao
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