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| This is why European energy prices are breaking records |
| Berlin, 09.12.2021 |
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| European energy markets from natural gas to carbon permits jumped to records, signaling the supply shortage will get worStockpiles of everything from gas to coal and Norwegian water for electricity production are dwindling and there are few signs the situation will improve anytime soon as demand continues to roar back from a pandemic-driven lull.
“Europe’s supply-demand balance will remain unusually tight heading into the winter, adding further price pressure to a market already at record highs,” BloombergNEF analysts wrote in a report published Tuesday.
se just as the winter season starts.
Many of the U.K.’s smaller energy suppliers have collapsed, while some French electricity retailers are struggling to supply clients and are also at risk of folding. Meanwhile, Europe’s miners have warned that the unprecedented prices could disrupt their shift away from fossil fuels.
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