French Electricity Price Exceeds 1,000 Euros for First Time
- French and German power rose to fresh records Friday
- European leaders prepare for emergency meeting on energy
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The price of power in Europe’s two key markets surged more 25% on Friday, a chaotic spike that will see the continent’s leaders hold an emergency meeting to discuss the crisis.
Electricity for next year in Germany and France -- both beset by their own severe crises -- are setting almost records almost daily. That’s because Russia is constricting the supply of natural gas and also, in the case of France, an ongoing slump in nuclear generation.