German benchmark power price for year-ahead surges past €1,000

To say that power prices have gone parabolic may be underselling it a bit. This is more like a rocket ship taking off. As much German officials are maintaining that they have sufficient gas storage levels to hold for winter, recent energy developments in the region aren’t going to provide much comfort if this means that we will have to run through the same predicament again next year – which looks almost certain.

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