Economics
Energy Prices Crash in Europe as Old, New Fuels Vie for Share
- Benchmark gas futures post worst first half in a decade
- ‘Rapid demand growth’ seen for gas, as renewable costs plunge
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Gas and coal prices are plunging in Europe, hurt by the relentless threat of ever-cheaper clean energy that’s gaining market share and pushing out the fossil fuels in the process.
Both energy commodities had their fourth weekly decline, with benchmark Dutch gas posting the biggest first-half slump in a decade. That’s exacerbated by a glut of liquefied natural gas cargoes arriving in Europe. Prices have fallen far enough that gas-fired power stations in Germany are making more money than those burning coal, which usually is the more profitable fuel.