Of course, money are important as are the prices. They are the reflection of actual economy, but the average Western "economist" today is a person who is removed from actual economy very far. Suffice it to say that modern managerial class in the West understands only the language of stocks, capitalization, futures and trades. They DO NOT understand how economy works. How else can you explain Europe's and, to a somewhat lesser degree, America's ongoing economic suicide.
European power prices soared to records after Electricite de France SA said two nuclear reactors will stop unexpectedly and two will have prolonged halts -- just as the continent heads for a cold snap with already depleted gas inventories. German electricity for next year jumped more than 10% as EDF is set to shutter two reactors at its Chooz nuclear plant this week and extend halts of two units at its Civaux site until spring after agreeing with the safety regulator to replace faulty pipes. The facilities make up almost 10% of the French nuclear capacity. The shutdowns will make the market even more jittery just as temperatures are set to plunge way below average for much of the continent. Peak demand in France alone is set to jump 7% to above 80 gigawatts next week, according to a Bloomberg model. “The market is already very nervous and extremely sensitive, and the timing of this info could not have been much worse for market participants hoping for a drop in power prices,” said Bo Palmgren, chief operating officer at MFT Energy, a trading company is Aarhus, Denmark.
Well, Russia did warn about this long time ago, nobody listened. Poland wanted "market" to decide prices on energy, as a result we have what Poland wanted--Gazprom laughing all the way to the bank because of the spot pricing, instead of the long term contracts with fixed price. Not that there is no a downside to this for Gazprom, because, obviously, the pricing not just squeezes, it kills EU customers. But for now, Gazprom already has pretty much returned its investment into the NS2 and really doesn't care what happens to NS2 at this point.
Berlin, December 15 - Neftegaz.RU. The price of natural gas in Europe on Tuesday rose to $1,400 per 1,000 m3 after Germany said Russia’s Nord Stream 2 pipeline could not be greenlighted for launch, citing rising tensions on the Ukrainian border, RT has reported. The price of January futures on the TTF hub in the Netherlands rose 5.5% to $1,428 per 1,000 m3 at 7:04am GMT, or $138 per megawatt-hour in household terms, according to data from the Intercontinental Exchange. A day earlier, gas prices in Europe jumped around 10% after German Foreign Minister Annalena Baerbock said Russia’s newly constructed Nord Stream 2 pipeline could not be put in operation because it did not meet the requirements of EU energy law.
To understand the scale of a calamity in Europe it is enough to look at this graph.
At this stage one begins to understand why they fail all the time. I speak about it in my latest video:
In an affront to the West, Gazprom now got to another domestic project. It is not enough for Gazprom to have already highest skyscraper in Europe as its corporate office--a truly magnificent Lakhta Center.