Rhine River drops to record lows, restricting shipping and exacerbating the European energy crisis
The water level on the Rhine River as measured by the Emmerich gauge in northern Germany is at a record low for this time of year.
Drought and heat drive European electricity prices to all-time highs
Drought and heat have pushed European benchmark electricity prices to all-time highs on August 2, 2022. As a result, countries are relying even more on Russian gas to meet increased power demand instead of storing it for the coming winter season, as recently agreed in Brussels.
MPs warn energy bills will push millions into unmanageable debt as UK inflation hits fresh 40-year high and European energy crisis soars
UK’s Members of Parliament said millions of people will be plunged into unmanageable dept this winter unless the government comes up with a solid plan to support those most affected by rising prices.
Eurozone inflation hits another record high
Driven by rising food and energy costs, consumer prices in Eurozone jumped 8.6% over the year through June, hitting another record high since the creation of Euro in 1999.
Europe preparing for natural gas rationing, signals shift back to coal ahead of 2022/23 winter season
As the energy crisis in Europe continues deepening, the EU countries that depend on Russian gas have signaled a shift back to coal and started triggering emergency plans that could lead to natural gas rationing ahead of the 2022/23 winter season.
U.S. declares national energy emergency
The United States declared a national energy emergency on June 6, 2022. The emergency – declared to exist with respect to the threats to the availability of sufficient electricity generation capacity to meet expected customer demand – will stay in effect for at least 24 months or until it’s declared terminated, whichever occurs first.
Eurozone annual inflation hits a record high for the sixth consecutive month
Eurozone inflation in April 2022 is expected to be 7.5%, hitting a record high for the sixth consecutive month.
Energy prices skyrocket after Russia attacks Ukraine
Gas and oil prices in Europe skyrocketed after Russia attacked Ukraine early Thursday morning, February 24, 2022. Meanwhile, stock markets around the world tumbled amid rising concerns while Euro plunged to its lowest level against the dollar since June 2020 and hit…
Kosovo introduces rolling power cuts as European energy crisis deepens
Kosovo's power system is already completely affected by global energy prices, forcing the country to introduce rolling two-hour blackouts for most of its 2 million people on Wednesday, December 22, 2021. Only emergency customers will stay unaffected. This wave…
Natural gas prices in Europe explode to all-time highs as major Russian flow stops
Natural gas prices in Europe exploded on Tuesday, December 21, 2021, after a major pipeline that brings Russian gas to Europe slowed output over the past couple of days and completely stopped delivering on Tuesday. This combined with record-high prices of…
