It is just beyond petrifying to look at the charts and to see how historical prices over the past decade compare to the latest surge in European energy prices. Dutch TTF futures have jumped up by over 12% to €288/MWh today after Russia has said that they will close the Nord Stream pipeline for maintenance for three days at the end of August. Here's a look at the chart:
And when you look over to French and German year-ahead baseload power prices, it is even more daunting as prices hit €775/MWh and €624/MWh (a new record) respectively to start the week (h/t @ YanQinyq):
This is Europe heading towards devastation and I can't imagine how this is going to translate to consumers as we look towards the winter months.
