European Energy Prices Hit Fresh Records As “Snow-Laden Polar Plunge” Looms–Rolling Power Outages Expected This Winter
November 16, 2021 Cap Allon
European Energy Prices Hit Fresh Records As “Polar Plunge” Looms
Thanks to our bumbling, echo chamber-dwelling betters at COP26, EU carbon prices hit a record Eur66/mt on November 15–the first trading day after the UN Climate Change Conference. Energy prices also witnessed a sharp uptick, driven by extreme cold weather forecasts.
The price of EU carbon dioxide allowances (EUAs) under the EU Emissions Trading System (ETS) closed at Eur65.93/mt — that’s a rise of 4 percent. While European gas prices ended the day above Eur80/mt — an increase of 7 percent.
As reported by spglobal.com, temperatures across much of Europe are forecast to plunge well-below seasonal average in the final week of November as a powerful Arctic front descends deep into the continent.
https://electroverse.net/energy-prices-hit-records-as-polar-plunge-looms/
