Power prices across Europe are ‘exploding’

The Australian’s Contributing Economics Editor Judith Sloan says power prices across Europe are “exploding” due to an over-reliance on renewables.

“The electricity price in Europe, for example, is now as high as it has ever been, and we’re seeing two important bits to the story,” she told Sky News host Chris Smith.

“We’re seeing wholesale electricity prices, which in the end get translated to household prices … but also in particular gas prices.

“So, what we call natural gas – the prices are now three, four, and sometimes five times higher than they were 18 months ago.”

source

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