{"id":61022,"date":"2021-12-20T07:35:19","date_gmt":"2021-12-20T12:35:19","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61022"},"modified":"2021-12-20T07:35:19","modified_gmt":"2021-12-20T12:35:19","slug":"european-nuke-plants-offline-as-power-prices-hit-record","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61022","title":{"rendered":"European Nuke Plants Offline As Power Prices Hit Record\u00a0"},"content":{"rendered":"
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European Nuke Plants Offline As Power Prices Hit Record\u00a0<\/a><\/h3>\n<\/header>\n
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Bloomberg’s Chief Energy Correspondent Javier Blas\u00a0tweeted<\/a>\u00a0a disturbing map of European day-ahead electricity prices that will hit record highs on Monday.<\/p>\n

“EUROPEAN ENERGY CRISIS: Wow, wow, wow… I’m running out of words to describe the European short-term electricity market,”<\/em>\u00a0Blas said.<\/p>\n

He continued,\u00a0“Multiple records breached for Monday. With the exception of Poland and Scandinavia, all Europe is above \u20ac300 per MWh (France and Switzerland near \u20ac400).”<\/em><\/p>\n

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The continuation of surging power prices, as Blas explained, is due to\u00a0“Lots of nuclear reactors are down, demand is high (electricity used for heating), so it’s burning gas to bridge the gap.”\u00a0<\/em><\/p>\n

Days ago, we told readers multiple nuclear power plants in France were\u00a0taken offline<\/a>\u00a0due to routine safety inspections that found cracks at one power plant.<\/p>\n

European daily power demand continues to soar as colder-than-normal temperatures are present across the continent.<\/p>\n

Benchmark natural gas prices surged to a new high last week, up more than 650% on the year, on concerns of\u00a0declining gas flows<\/a>\u00a0via the Yamal-Europe pipeline that runs across Belarus and Poland to Mallnow, Germany; low storage on the continent, and geopolitical risk.<\/p>\n

European natural gas prices hit a new record high.<\/p>\n

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The amount of gas entering Germany at the Mallnow compressor station collapsed. The pipeline only booked for 4% of space for Dec. 20.<\/p>\n

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The latest geopolitical flare-up occurred last week when Germany’s federal network agency, Bundesnetzagentur, said Russia’s Nord Stream 2 pipeline\u00a0won’t be cleared until July<\/a>. On Sunday, Germany said they could entirely block the Nord Stream 2 if a\u00a0possible conflict<\/a>\u00a0between Russia and Ukraine erupts.<\/p>\n

Europe’s energy crisis worsens and risks\u00a0sparking discontent among many Europeans. How long until politicians order utilities to implement price caps on power rates?\u00a0If politicians want to stay in power, they might also have to subsidize people’s power bills as energy inflation runs wild.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

European Nuke Plants Offline As Power Prices Hit Record\u00a0 Bloomberg’s Chief Energy Correspondent Javier Blas\u00a0tweeted\u00a0a 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,”\u00a0Blas said. He continued,\u00a0“Multiple records breached for Monday. With […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,4],"tags":[265,2488,281,32324,554,17653,579,4318],"class_list":["post-61022","post","type-post","status-publish","format-standard","hentry","category-energy-2","category-environment","tag-energy-crisis","tag-energy-prices","tag-europe","tag-javier-blas","tag-natural-gas","tag-natural-gas-price","tag-nuclear-power","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61022"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61022\/revisions"}],"predecessor-version":[{"id":61023,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61022\/revisions\/61023"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}