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Tag Archives: energy crisis
In Brief: Fracking back, new weather warnings, lockdown by any other name
In Brief: Fracking back, new weather warnings, lockdown by any other name Fracking back Anti-fracking campaigners like to flatter themselves by claiming that it was their protests which finally brought UK fracking to an end. The reality though, is that the price at which UK shale gas might be recovered was far higher than the […]
The UK energy rationing plan
The UK energy rationing plan The establishment media are suspiciously silent about the energy crunch facing Europe in general and the UK in particular. In October, when the wholesale gas price spiked at 400 percent above its January 2021 level, energy prices were headline news. So too was the sight of energy supply companies falling […]
From Bad To Worse: Another French Nuclear Reactor Cuts Output Due To Strike
From Bad To Worse: Another French Nuclear Reactor Cuts Output Due To Strike France’s energy crisis worsened overnight when another nuclear power plant had to reduce electricity output. Power prices jumped as the government requested one of the largest utility companies to restart more nuclear reactors amid cold weather. Following last week’s shuttering of two nuclear […]
European Nuke Plants Offline As Power Prices Hit Record
European Nuke Plants Offline As Power Prices Hit Record Bloomberg’s Chief Energy Correspondent Javier Blas tweeted a disturbing map of European day-ahead electricity prices that will hit record highs on Monday. “EUROPEAN ENERGY CRISIS: Wow, wow, wow… I’m running out of words to describe the European short-term electricity market,” Blas said. He continued, “Multiple records breached for Monday. With […]
Entice and Orbit become latest energy firms to go bust
Entice and Orbit become latest energy firms to go bust IMAGE SOURCE,GETTY IMAGES Two more energy suppliers have gone bust amid the surge in gas prices, the regulator Ofgem has said. Entice Energy and Orbit Energy, which have about 5,400 and 65,000 customers respectively, ceased trading on Wednesday. The two firms are the latest companies […]
German Cold Blast To Extend Into January Amid Energy Crisis
German Cold Blast To Extend Into January Amid Energy Crisis A combination of factors creates a perfect storm of turbulence for many Europeans paying some of the highest energy prices ever. Natural gas stockpiles remain at low levels as gas flows from Europe are depressed. The continuation of cold weather and an energy crunch is […]
Russia Puts The Blame On Europe As Energy Crisis Worsens
Russia Puts The Blame On Europe As Energy Crisis Worsens The EU is reconsidering its position on extending long-term natural gas contracts. Russia has maintained that the contracts are beneficial for Europe and moving away from them would be a mistake. Russia even went as far as suggesting that Europe’s current energy crisis is its […]
European Gas Prices Hit Record High As Germany Blocks Nord Stream 2
European Gas Prices Hit Record High As Germany Blocks Nord Stream 2 European gas futures surged to a record high on Tuesday after Germany blocked Russia’s Nord Stream 2 pipeline from launch because it did not comply with European law. German foreign minister Annalena Baerbock said all three parties that make up the new government […]
Running Out of Spare Capacity
Running Out of Spare Capacity Global oil markets could not have looked grimmer than back in the summer of 2020. COVID cases were increasing again and further global economic lockdowns were being threatened. Only two months before, oil prices had crashed into negative territory for the first time in history as global inventories had surged […]
Singapore Power Prices Spike 1,290% As Energy Crisis Emerges
Singapore Power Prices Spike 1,290% As Energy Crisis Emerges The global energy crisis continues to worsen with its latest victim Singapore. Power prices in the Southeast Asian country saw a dramatic surge in wholesale power prices. According to Bloomberg, provisional Uniform Singapore Energy Price jumped S$4,499 ($3,293) per megawatt-hour, the highest on record or about a […]
La Nina To Blast Europe With Cold Snap Amid Energy Crisis
La Nina To Blast Europe With Cold Snap Amid Energy Crisis Energy prices in Europe are expected to increase as new weather models forecast a plunge in temperatures to begin by the late weekend. A weather phenomenon known as La Nina will bring below-normal temperatures for continental Europe and the Nordic region by Sunday. The […]
EU Official Warns Of ‘Rolling Blackouts’ As Energy Crisis Worsens
EU Official Warns Of ‘Rolling Blackouts’ As Energy Crisis Worsens Europe’s energy crisis is about to get a whole lot worse as the Northern Hemisphere winter is just weeks away. New risks are emerging across the continent that households and companies might have to scale back on power use or even plan for rolling blackouts. […]
Food Inflation Is the 2022 Crisis, Not Supply Chains
Food Inflation Is the 2022 Crisis, Not Supply Chains The real trouble will start when this year’s energy crisis morphs into next year’s food inflation problem. We’ve all become armchair inflation experts. And why not? It’s almost impossible for anyone to keep getting it as systematically incorrect as professional economists have done this year. It’s time for the […]
Brits Google ‘Energy Bill Help’ As Energy Suppliers Go Bankrupt
Brits Google ‘Energy Bill Help’ As Energy Suppliers Go Bankrupt Extreme gas price volatility has led to a string of bankruptcies among British energy suppliers UK Household gas bills have risen by 28.1 percent and electricity bills 18.8 percent in the year to October Germany’s recent decision to halt approval of the Nord Stream 2 […]
Biden Asks The World For Help Easing The Global Energy Crisis
Biden Asks The World For Help Easing The Global Energy Crisis Oil prices have fallen below a key psychological barrier on news that Biden is trying to persuade a number of countries to release crude from their Strategic Petroleum Reserves. Biden’s highly unusual move comes just months after he made another request to OPEC+ to […]
