Energy Crisis in Europe is Making the Market Nervous

Last updated on September 30th, 2021 at 10:57 am

Due to extreme shortage of natural gas, energy prices in Europe have hit record low. They are generating much lower than expected wind power output. Several countries have even been forced to restart coal power plants to ensure enough electricity reaches to all the consumers.

Stefan Konstantinov, who is senior analyst at ICIS Energy mentioned that Europe’s energy supply crunch is making the market nervous as we approach winter. It should be noted that energy bills are most expensive ones in Europe now. And this price has surged due to country’s high dependence on gas and renewables to generate electricity from scarce resources or to import from other countries.

It doesn’t just stop here rather these higher gas prices have also been a big driver in lifting carbon and coal prices to record highs too. Factors such as low wind generation and nuclear plant unavailability across the continent are few of the key factors that play important role.

Related Posts

Carbon prices in Europe have nearly trebled this year as the European Union reduces the supply of emissions credits. The EU’s benchmark carbon price climbed above 60 euros per metric ton for the first time ever in recent weeks, trading slightly below.

Konstantinov further added that high energy consumption and low production across Europe is also coupled with the very significant competition for LNG supplies from Asia and South America, which is driving gas prices up.

The people in Europe are fearing being in this energy crisis state especially because they have never faced widespread risk of blackouts, such as those seen in California, Texas and New York.

Another might be that energy cost as a proportion of income remains below historical levels. Europeans rank climate change as one of the top concerns in their continent, this may lead them to accept slightly higher energy prices if it leads to a lower-carbon world.

Geopolitical Monitor

The daily developments on front of geopolitical relations and agendas are guaranteed to be brought to you. Assuring to bring to you the most unique point of view regarding the global developments

Recent Posts

Why UK Film Students Are Studying Cary-Hiroyuki Tagawa’s Acting Techniques

Global film legends are being used by British film schools to redefine the manner in which future actors train their… Read More

December 5, 2025

Aviation Bottlenecks: Edinburgh Airport, Why it Became a Case Study in 2025

When the rise in customer numbers was met with low capacity to carry them, Edinburgh Airport became a high-profile symbol… Read More

December 5, 2025

World Health Organization Unveils 2026 Guidelines on New Obesity Medicines

The World Health Organization (WHO) has released its first global guidelines for the use of new obesity medicines, marking a… Read More

December 5, 2025

Military Demand vs. Renewable Future: The Global Rush for Critical Minerals — Can Climate & Security Co-exist?

The global race for critical minerals has intensified as countries push toward clean energy while simultaneously expanding military capabilities. Lithium,… Read More

December 5, 2025

Sustainability vs Fast Fashion: Why the Fashion Industry’s Environmental & Labour Impact Still Matters

The entertainment around the global fashion industry is facing increased scrutiny as the consumers get to know more about the… Read More

December 5, 2025

Hotel Deals & Travel Discounts in Japan: What Japan’s ‘GoGo Sale’ Means for Holiday-Season Bookers

The GoGo Sale of Japan is aimed at stimulating domestic and inbound tourism by offering time-promotion discounts on hotels, transport,… Read More

December 5, 2025

This website uses cookies.

Read More