- Europe's benchmark price for power next year has gained for six consecutive days.
- German power for 2023 rose as much as 2.6% to 240 euros per megawatt-hour.
Europe's benchmark price for power reached the highest level of 2022 on Tuesday as the
German power for next year posted its sixth day of gains, rising as much as 2.6% to 240 euros per megawatt-hour to the highest price ever for the 2023 contract on the EEX-exchange, Bloomberg reported.
On Tuesday, Russian energy giant Gazprom shut off the valve to the
Meanwhile, an
Europe is simultaneously trying to grow energy stockpiles to prepare for a potentially stark winter as the energy crisis worsens. Bloomberg noted that the EU's energy storage levels are 46% full, which is also a 2022 high.
Russia has faced increased pressure on its energy sector since its invasion of