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Creativity 5 Comments 28th January

Wind Stops Blowing in Europe

Natural gas and electricity markets were already surging in Europe when a fresh catalyst emerged: The wind in the stormy North Sea stopped blowing.

The sudden slowdown in wind-driven electricity production off the coast of the U.K. in recent weeks whipsawed through regional energy markets. Gas and coal-fired electricity plants were called in to make up the shortfall from wind.

Natural-gas prices, already boosted by the pandemic recovery and a lack of fuel in storage caverns and tanks, hit all-time highs. Thermal coal, long shunned for its carbon emissions, has emerged from a long price slump as utilities are forced to turn on backup power sources.

The episode underscored the precarious state the region’s energy markets face heading into the long European winter. The electricity price shock was most acute in the U.K., which has leaned on wind farms to eradicate net carbon emissions by 2050. Prices for carbon credits, which electricity producers need to burn fossil fuels, are at records, too.

Wall Street Journal - Sept 13, 2021, Joe Wallace

2 Comments

  • Philip W
    United Kingdom
    Reply | Posted October 7, 2018

    Some consultants are employed indirectly by the client via a consultancy staffing company, a company that provides consultants on an agency basis.

  • Philip W
    United Kingdom
    Reply | Posted October 7, 2018

    Some consultants are employed indirectly by the client via a consultancy staffing company, a company that provides consultants on an agency basis.

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