EU energy plan beats inaction


A perfect storm hit European energy markets, prompting leaders to intervene. It’s not all bad news for investors.

The confluence of extreme summer heat, dwindling Russian gas deliveries, unscheduled shutdowns of French nuclear power plants, droughts reducing hydroelectricity and low river water levels limiting coal deliveries have pushed the natural gas prices at unprecedented levels. They are closely linked to electricity costs because it is the fuel that often sets the marginal price in European electricity markets, much like in the United States.


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