European Power Tops €1,000 as Weak Wind Drives Up Gas Generation
- Gas-fueled production in Germany rises to a two-year high
- Wind-energy output is forecast to be weak until the weekend
Wind turbines near Brandenburg an der Havel, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
European electricity prices jumped above €1,000 a megawatt-hour as low wind generation drove a surge in gas-fired power.
Gas-fed output in Germany, Europe’s biggest electricity market, rose to a two-year high to meet demand. With wind production forecast to be weak until the weekend, the country must rely on costlier fossil fuels to keep the lights on.