The prices for electric energy in Europe grew amid the reduction of its production by wind farms in the North Sea because of the lack of strong winds there. It was reported by the Wall Street Journal on Monday, September 13.
According to the publication, prices in Britain more than doubled in September and were almost seven times higher than in 2020. In the country last week, electricity prices were as high as £285 per megawatt per hour, the highest since 1999.
In the U.K. on Sept. 6, wind accounted for only 4.9 percent of electricity generation, compared with an annual average of 18 percent.
To compensate for the decrease in electricity production, gas and coal-fired power plants were used.
At the same time, the cost of gas in Europe reached unprecedentedly high levels. On September 13, the exchange price of gas reached $727 per 1,000 cubic meters. In June it was slightly over $300.