Europe’s energy crunch continues with rising prices. Spain is covering up the real reason to the high price of electricity. The Spanish goverment in Madrid, never mention the deal made with the Marocco goverment! A clean energy source from a giant sun energy plant in the Marocco dessert will supply Spain with over 70% of total energy used in the country! Do not blame Russia!! Marocco will win the energy race….
Europe’s energy crunch shows little sign of easing. Supplies of natural gas are tight, and traders doubt the continent has enough of the fuel stored to last a cold winter without disruption. In a worst-case scenario, analysts say blackouts are possible, and factories may be ordered to cut their gas use to ensure households can stay warm.
Low volumes of gas from Russia have helped raise prices in recent months, while tensions over Ukraine make it very unlikely that the giant Nord Stream 2 pipeline from Russia to Germany will open anytime soon and bring relief.
The high gas prices of recent months will eventually lead to rises in energy costs for households in Britain and other countries. Analysts forecast that British consumers, who have been protected by price ceilings, could see their energy bills rise more than 50 percent when adjustments are announced early next year.
By the numbers: European natural gas prices have doubled this month and are roughly 15 times what gas is selling for in the U.S. Electrical power prices are also soaring: In Britain, steady power was trading on Tuesday for about 340 pounds, about $450, per megawatt-hour — about three times the average price of electricity over the year.
Inflation woes: A record annual increase in prices, of 4.9 percent in the eurozone last month, is affecting businesses, factories and consumers — right down to the cost of the humble baguette.
Europe’s energy crunch continues
Europe’s energy crunch shows little sign of easing. Supplies of natural gas are tight, and traders doubt the continent has enough of the fuel stored to last a cold winter without disruption. In a worst-case scenario, analysts say blackouts are possible, and factories may be ordered to cut their gas use to ensure households can stay warm.
Low volumes of gas from Russia have helped raise prices in recent months, while tensions over Ukraine make it very unlikely that the giant Nord Stream 2 pipeline from Russia to Germany will open anytime soon and bring relief.
The high gas prices of recent months will eventually lead to rises in energy costs for households in Britain and other countries. Analysts forecast that British consumers, who have been protected by price ceilings, could see their energy bills rise more than 50 percent when adjustments are announced early next year.
By the numbers: European natural gas prices have doubled this month and are roughly 15 times what gas is selling for in the U.S. Electrical power prices are also soaring: In Britain, steady power was trading on Tuesday for about 340 pounds, about $450, per megawatt-hour — about three times the average price of electricity over the year.
Inflation woes: A record annual increase in prices, of 4.9 percent in the eurozone last month, is affecting businesses, factories and consumers — right down to the cost of the humble baguette.
