European Gas and Power Prices Squeezed by Record Storm Gusts

  • Hurricane-force winds cause disruptions across northern Europe
  • Still, wind generation offers respite for energy supplies

 

Wind generation in Germany is on course to hit a record today.

Photographer: Krisztian Bocsi/Bloomberg
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European energy prices tumbled, with natural gas futures hitting a six-month low as a new Atlantic storm brought unseasonable warmth and boosted wind-power generation.

Benchmark gas futures dropped as much as 6.4%, falling to the lowest since July. Intraday power prices in Germany and France fell below zero for several hours. They turn negative when supply outstrips demand.