Electricity prices jump in Europe as demands soars in the heatwave

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Electricity prices in Europe have surged sharply due to a heatwave driving increased demand for cooling. Great Britain has paid over six times the normal price for imported power, as windfarm output falls and gas plant outages occur across multiple countries.

Great Britain has paid at least six times normal for imported power as millions turn on air conditioning and windfarms’ output sags The heatwave has prompted a sharp rise in electricity prices across European markets as millions turn to air conditioners and electric fans to battle record high temperatures, which have also caused a string of power plant outages across the continent. Great Britain imported electricity from Europe at more than six times the normal price on Tuesday as the high pressure heat dome has slowed wind speeds, hitting renewable energy generation, and caused outages at multiple gas plants across the country. Continue reading...