‘Supply just can’t keep up’: Don’t look now, but Europe is in the midst of a full-blown energy crisis

Posted at 4:25 pm on December 19, 2021 by Greg P.

Don’t look now, but Europe is in the midst of a full-blown energy crisis:

EUROPEAN ENERGY CRISIS: Russian natural gas flows via the key Yamal-Europe pipeline have plunged today to one of the lowest levels year-to-date (according to data at the Mallnow metering station on the German-Polish border) #ONGT #EuropeanEnergyCrisis
— Javier Blas (@JavierBlas) December 18, 2021

And freezing temps this week will make it worse:

Europe is bracing for energy shortages this week as freezing weather is set to boost demand at a time supply just can’t keep up https://t.co/GynTbzBjOU
— Bloomberg (@business) December 19, 2021

You know, maybe shutting down nuclear power plants and relying on Russia for the continent’s energy needs wasn’t such a great idea after all. Lesson learned!

Russia’s gas shipments through a major transit route to Germany are set to remain capped on Monday, potentially worsening Europe’s energy crunch just as a cold snap arrives in the region https://t.co/iGofUhAgQS
— Bloomberg (@business) December 19, 2021

In case it wasn’t obvious before:

And this is why the #NordStream2 issue matters. Putin is openly telling us how he will use energy to shape the future of Europe. https://t.co/aONwAsIEpX
— Victoria Coates (@VictoriaCoates) December 18, 2021

Prices throughout Europe are setting records:

EUROPEAN ENERGY CRISIS: Wow, wow, wow… I'm running out of words to describe the European short-term electricity market. Multiple records breached for Monday. With the exception of Poland and Scandinavia, all Europe is above €300 per MWh (France and Switzerland near €400) pic.twitter.com/yRTKA9Jskp
— Javier Blas (@JavierBlas) December 19, 2021

Good:

The French government asked Electricite de France to restart some nuclear reactors earlier than planned in order to help with a winter energy crunch across Europe https://t.co/EHPEXv0ogt
— Bloomberg (@business) December 19, 2021

Now, all of Europe needs to follow France’s lead.

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