The French year-ahead contract rose as much as 25% to 1,130 euros a megawatt-hour on the European Energy Exchange AG Friday. The German equivalent also gained to a record, rising as much as 33% to 995 euros a megawatt-hour for a gain of about 70% this week. In oil market terms, it’s the equivalent of over $1,600 a barrel.
Wow! And to think I felt bad about my electric bill of 26 cents a kWh. The French will be paying $1.13 kWh!
At the same time shortages will mean NO natural gas for heating, at any price!
Well, Frack Me!
… and don’t forget about the rising price of home heating oil!