Europe Energy Crisis

FILE - The sun sets behind the cole-fired power plant 'Scholven' of the Uniper energy company in Gelsenkirchen, Germany, Oct. 22, 2022. Europe's sky-high natural gas prices have fallen thanks to unseasonably warm weather and efforts to fill up storage ahead of winter. Prices have fallen to their lowest level since June and electricity is cheaper, too. Lower use by industry has helped to reduce demand for fuel as well. (AP Photo/Michael Sohn, File)

FRANKFURT, Germany — Natural gas and electricity prices in Europe have plunged from summer peaks thanks to mild weather and a monthslong scramble to fill gas storage ahead of winter and replace Russian supplies during the war in Ukraine. It’s a welcome respite after Russia slashed natural gas flows, triggering an energy crisis that has fueled record inflation and a looming recession.

Yet experts warn it’s too soon to exhale, even as European governments roll out relief packages for people struggling with high utility bills and work on longer-term ways to contain volatile gas and electricity prices that have shrunk household budgets and forced some businesses to shut down.

(1) comment

Jimzan 2.0

I am sure Joe Biden (the Pedophile) releasing oil from the stratig reserve helps temporarily...While putting America in jeopardy. What Trash (like Biden) will do to retain power...is truly Pathetic

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