(Oct 3): As the frontier of Europe’s energy crisis moves north, dwindling water stocks are exacerbating the squeeze in the Nordic region. Nordic power prices were five times higher in September than a year ago. Europe’s northern corner can’t hide from the global shortage of natural gas and coal, with dwindling water reserves curbing the region’s most important source of electricity. Britain and Ireland are arguably the hardest hit by the global gas shortage and are starved of power. That could help ease a strained power balance in the south, where Uniper SE’s oil-fired power plant ran at full throttle regularly in September.

Source: The Edge Markets October 03, 2021 04:41 UTC