Russia has a strangle hold again and Energy Inflation Gathers Pace as EU Gas, Power Surge to Records

Energy Inflation -EnergyNewsBeat.com

Energy News Beat Publishers Note (ENB): Russia has held Europe hostage in the past and is doing it again with the Nordstream 1 down, and Nordstream 2 just starting operation. Politics sometimes just makes you want to shake your head and leave the office early. And from Geo-Political Futures, “Energy inflation. Concerns are growing in Europe about rising energy prices. In Germany, the price of electricity has doubled since March 2020. Gasoline prices have also risen significantly due to a carbon tax. In Europe, the price of natural gas is now at a 13-year high, in part due to supply shortages following a cold, long winter and Gazprom’s decision not to increase gas transit through Ukraine while other pipelines are being repaired.”

Energy inflation is gathering pace in Europe, with the price of everything from gas to electricity surging to records, fueling concerns about costs to consumers as the world emerges from the global pandemic.

European natural gas and power prices climbed to an all-time high on Thursday, as did the cost of pollution permits. Energy demand is rebounding just as Europe plans to expand and impose tougher limits on emitters later this month, a move that’s helping boost energy costs in the region.

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