- Sep 17, 2021 8:32 pm GMT
A record run in energy prices that pushed European electricity costs to multi-year highs is unlikely to ease off before year-end, pointing to an expensive winter heating season for consumers.
The key benchmark EU and French power contracts have both doubled so far this year due to a confluence of factors ranging from Asia's economic recovery - which sent related coal and gas prices soaring - to political will to drive up European carbon emission permits, higher oil prices and low local renewable output.
The benchmark EU power contract, German Cal 2022 baseload power , on Friday set a new contract record of 97.25 euros ($115.09) a megawatt hour (MWh), while its French equivalent was just off a record 100.4 euros/MWh."
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