Energy Live has once again had to change its color scheme on European power prices as they skyrocket to new records.
Here's what prices were six days ago:
This is back on October 1 and for that time, prices were already at 'crisis' levels.
These numbers render many industries completely uncompetitive.
A cold front is moving through much of Europe, leading to higher demand for power and gas.On top of that, there's been a throttling of French nuclear power. European gas prices are out of sight.
TTF gas prices daily
What's particularly concerning is that even out to year-end 2022, TTF prices are at €90.
Those prices are in MwH and I believe that translates to a Henry Hub prices of $55 (it's trading at $3.86). In other words, it's good to be an LNG exporter.
