European Power Prices Hit 2022 Highs as Wind and Solar Output Slumps

A high-pressure weather system with still, cloudy conditions has cut wind and solar generation across Germany, the UK, France, Belgium, and the Netherlands, driving peak evening power prices to levels not seen since 2022. The supply shortfall is expected to persist until midweek, exposing the region's dependence on intermittent renewables and tightening margins for grid operators. The development signals near-term inflationary pressure on European energy costs and could prompt increased gas-fired generation.

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