Filenews 29 August 2022
The Czech Republic, which is currently presiding over the European Union, has invited European Union energy ministers to an extraordinary meeting on September 9th to discuss the issue of rising energy prices, Energy Minister Josef Sikela announced today.
The emergency session will consider proposals such as a cap on the price of gas used to produce electricity or interventions to prevent market disruptions, Sikela said.
German electricity exceeded €1,000 for the first time
German electricity - a European benchmark - first surpassed €1,000 as the energy crisis in Europe intensifies, according to Bloomberg.
The upward movement comes after a chaotic Friday, when prices in Germany and France rose more than 25%, while Russia is limiting gas flows. Meanwhile, France is also facing a fall in nuclear energy production.
Against this backdrop, the German energy contract for 2023 rose by up to 6.6% to €1,050 per megawatt hour. The French contract jumped above the €1,000 level on Friday.
SOURCE: ABE/INSIDER
