Don't plan any trips to Spain. Not that I wanted to.
But, yes, EU is steadily going bananas and I think they should double down on support for Ukraine by limiting "dependence" on Russia's energy. This is just a "warm up" for the main event, if you know what I mean.
Germany’s year-ahead electricity prices hit a record high on Friday after several utilities across Europe warned of lower power supply due to hot and dry weather that affects nuclear and coal power generation. The price of electricity in the biggest market in Europe, Germany, rose by 2% early on Friday to a record $419 (410 euro) a megawatt hour (MWh), per Bloomberg estimates. More and more utilities in Europe are looking to switch to fuels other than natural gas because of sky-high prices and uncertainty in Russian supply as the continent scrambles to fill gas storage sites ahead of the winter.But coal supply is constrained due to low water levels on the Rhine River, a major coal and fuel transportation corridor in Europe.
Mind you, Europe did it to herself, so I have to stop using this caveat that I sympathize with Europeans. You made your own bed, now sleep in it.
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