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The Economist explains
Why has the price of electricity in Europe reached record highs?
A shortage of natural gas and wind are to blame
Sep 15th 2021
IN EUROPE THE cost of electricity is soaring. Prices had been rising steadily this year, as economic recoveries got under way. But they have spiked in the past few weeks. Since the start of September, wholesale power prices in Germany and France have climbed by 36% and 48%, respectively. They are now hovering at around €160 ($189) per megawatt hour, a record level. In Britain prices are at a whopping £385 ($532), up from £147 a few weeks ago. What explains the surge?
Why has the price of electricity in Europe reached record highs?
A shortage of natural gas and wind are to blame