European Power Jumps as Low Wind Is Exacerbating Energy Crisis
Wind turbines in Brandenburg, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
European power prices climbed as a dearth of wind is worsening the region’s energy crisis.
The day-ahead price in Britain soared 26% to trade at its highest since early March, while the German contract gained 3.2%. Both markets rely heavily on wind to meet increasing consumption. When there’s low availability, more expensive stations that burn gas and coal will have to plug the gap.