With global coal prices rising steadily, this puts pressure on the power generation industry in the country. Coal prices jumped to a record high of US$270 (US$1=RM4.19) per tonne last October, and it stands at US$203 per tonne as at Jan 10, 2022. EUROPEAccording to the International Energy Agency (IEA), the higher gas and coal prices in Europe, including Spain and Germany, combined with rising European carbon prices, have resulted in higher electricity prices. In Germany, electricity prices surged last week to their highest level on record, up more than six times from a year ago. While, in Spain, where gas-fired power generation plays a larger role in setting electricity prices, the increase was even higher.
