Blast of African Heat Pushes Up Energy Prices in Europe

Europe is set for unseasonably warm and humid weather this week as a stream of hot air is funneled in from North Africa, boosting cooling demand and energy prices.

The heat is already hitting Iberia, with parts of Spain climbing to as high as 40C (104F) on Monday. Power prices in Spain for tomorrow are close to a three-month high, according to data from OMIE.