29.08.2022 12:24 Last Update: 29.08.2022 12:25
News Source: Bloomberg
Electricity and gas prices reached record levels in Europe, the USA and the UK after Russia cut its natural gas supply by up to 20 percent and successive statements that “repairs will be made”.
Indicative electricity price in the European market The price of the electricity contract with delivery in Germany next year exceeded 1,000 euros for the first time, with a daily increase of 6.6 percent. The indicator came in at 1,050 euros per megawatt hour.
Domestic markets expect intense data agenda in September
Drawing attention to the rising prices, Belgian Energy Minister Tinne Van der Straeten said, “The next five to ten winters will be terrible if we do nothing. We must act at the source at the European level and work to freeze gas prices.” she said.
German Finance Minister Christian Lindner also stated that the government should take urgent action against increasing prices and stated that inflation will be triggered even more if no action is taken quickly.