Germany’s green energy resolve faces pain in post-election winter
Germany’s clean-energy leanings will be tested as Europe’s largest economy starts facing the bill, and an initial reckoning could come as soon as this winter.
By Vanessa Dezem, William Wilkes & Birgit Jennen, Bloomberg News
A rebound in demand and tight supplies have driven power, gas and carbon prices in Europe to a string of records. Wholesale gas doubled in the last three months, power jumped more than 60 percent while oil rose about 10 percent. The combination has helped boost inflation in the euro area and is due to hit consumers in the coming months as prices get passed on.
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