Europe power prices hit new high in wake of Russian gas supply cuts

Financial Times LogoFinancial Times1 mo ago

Europe power prices hit new high in wake of Russian gas supply cuts

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Prices started rising a year ago,” he said.“The Russia-Ukraine war turbocharged everything.

Moscow claims sanctions have led to a decline in flows since key compressor parts are stuck in Canada, but European politicians see this as a pretext for cutting supplies and worry that flows will not even return to the current capacity of 40 per cent once the pipeline resumes.

In Europe, gas prices have rallied to their highest level in four months and have more than quadrupled since a year ago after Moscow deepened gas supply cuts to Europe.

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Article Details

Author / Journalist: Harry Dempsey

Category: MarketsFinanceInvesting

Topics: Cent Level Energy Supplies Power Year European Electricity France Prices

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-05, 04:00:26

News Timezone: GMT -5:00

News Source URL:

Language: English

Reading Time: 5 minutes read

Article Length: 768 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 30423

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