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Europe Power Soars to Six-Month High on Germany Gas Supply Alert

  • French, German year-ahead electricity prices rise with gas
  • European power is gaining on Russia gas-supply risks
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Germany Triggers Phase-Two of Emergency Gas Plan
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European power prices surged to the highest level since December after Germany took a step closer to rationing natural gas supplies amid cuts to flows from Russia. 

Rising gas prices have been pushing up the cost of electricity across Europe, fueling inflation and increasing the economic burden on businesses and households still recovering from the pandemic.