Europe's Energy Prices are now INSANE - Aug 22

[dan_s]

Natural gas futures linked to TTF, Europe's wholesale gas price, rose almost 20% to above €290 per megawatt hour, a new record high on renewed supply fears. Russia's Gazprom said it would cut flows through the Nord Stream pipeline to Germany for three days of maintenance at the end of August, exacerbating concerns about supplies and raising the risk of a recession if Russia's natural gas squeeze widens. The state-owned energy company Gazprom has already reduced flows through the Nord Stream pipeline to roughly 20% of its capacity, citing issues with turbines. On top of that, exports from two of Caspian Pipeline Consortium's three mooring points at a Black Sea terminal have been halted, according to the company, citing a damaged pipeline as the cause. Adding to the bullish outlook, a historic drought triggered by an arid summer that set heat records across Europe threatens to end energy shipments along the Rhine River while limiting hydroelectric and nuclear power production.

I really don't see how the EU's economy can survive this.

[CreativeEquity]

I am paying about 15/mw here in Florida. Also noticed more Europeans moving here.