Written by Joe Wallace on Sep 14, 2021.
Record-Breaking Energy Prices Hit Europe After Wind Stops Blowing
Natural gas and electricity markets were already surging in Europe when a fresh catalyst emerged: The wind in the stormy North Sea stopped blowing.
The sudden slowdown in wind-driven electricity production off the coast of the U.K. in recent weeks whipsawed through regional energy markets. Gas and coal-fired electricity plants were called in to make up the shortfall from wind.
Natural-gas prices, already boosted by the pandemic recovery and a lack of fuel in storage caverns and tanks, hit all-time highs.
Thermal coal, long shunned for its carbon emissions, has emerged from a long price slump as utilities are forced to turn on backup power sources.
https://climatechangedispatch.com/record-breaking-energy-prices-hit-europe-after-wind-stops-blowing/
