Europe Faces Energy Price Shock With Gas and Power at Records
- Wholesale prices could lead to 20% increase in bills for homes
- ‘Europe will face a very tight winter’: Engie EnergyScan
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Europe is facing an energy price shock as the cost of natural gas and electricity surges to record levels.
A gas supply crunch is boosting the cost of producing power from the U.K. to Germany just as businesses reopen and people return to the office, increasing demand. Rising prices are fueling inflation and threatening to stall the economic recovery as energy-intensive industries from fertilizer to steel may need to curb output.