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Energy Crunch Drives Carbon to Record as Europe Burns Coal

  • U.K. power plants are burning most coal since early March
  • Gas prices fall for a second day on revival of lockdown fears
Power Generation in Germany
Photographer: Krisztian Bocsi/Bloomberg
Updated on

Europe is growing increasingly reliant on coal to keep the lights on as the weather turns cold, sending the cost of polluting to a record.

Carbon prices exceeded 70 euros for the first time ever as utilities turn to the dirtiest of fossil fuels. Power plants in the U.K. are burning the most coal since the beginning of March to keep the lights on as the cooler-than-normal weather and sub-zero temperatures are forecast for major cities this week.