Although Russia cut off most gas supplies in the months following its invasion of Ukraine, constricting supply and sparking record-high prices, Europe is emerging from winter with a more reliable energy supply than was predicted last year. According to the…
Gas crisis causes European Energy Exchange power prices to surge further
Day-ahead auction prices for electricity on the European Energy Exchange (EEX), headquartered in the eastern German city of Leipzig, have hit a new record high of 553 euros per megawatt hour (MWh). When compared to the price of just 58…
EU gas solidarity is hampered by the absence of fuel sharing agreements
The European Union reached an agreement this week to deal with a gas supply issue, but for it to be effective, member states must develop bilateral pacts to exchange gas, and the majority of them do not currently have such…
Germany declares gas crisis as Russia cuts supplies to Europe
Germany raised the "alarm stage" of its crisis gas plan on Thursday in response to declining Russian supplies, but refrained from enabling utilities to pass on rising energy bills to consumers in Europe's biggest economy. The action is the most…