Climate Changed
Winter Comes Early to Gas Market in Europe
- Environmental rules push up demand for cleanest fossil fuel
- Consumers hope that rising LNG supplies will ease their pain
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Europe’s consumers might not know it yet, but they’re about to be clobbered by the shift to cleaner energy.
October’s arrival marks the first day of winter in the world of natural gas trading. What’s unusual this year is that wholesale prices are already near the highest levels in a decade -- even before the season’s first cold snap. Those rising costs are set to boost the price of heating homes and powering industry, which is already under scrutiny from politicians in London and Berlin.