Europe’s Power Prices Jump to 2022 High as Wind and Solar Falter

A weather front is bringing still and cloudy weather at the start of the week in some of Europe’s largest electricity markets, resulting in power prices for peak evening periods soaring to 2022 highs. Across the UK, Germany, and France, the top power markets in Europe, wind and solar power generation is slumping on Monday and is expected to remain below normal until at least the middle of this week.

The wind speed slumps will be especially pronounced in Germany, the UK, Belgium, and the Netherlands. This means that the price of electricity will be predominantly set by natural gas-fired plants, which use the most expensive gas in Europe in four years.