| The cause is a political battle with Putin over gas. Russia has traditionally used gas contracts with individual countries to buy political influence. Now the EU has a single gas market, and had upgraded pipelines to be used in reverse directions. For example, recently since gas transport from Russia to Poland was reduced, Germany has been exporting gas to Poland. Putin is testing Germany's new government and the EU leadership. More renewables, and using gas more efficiently, i.e better insulated buildings throughout the EU will solve this. New nuclear isn't going to happen much in the EU, and existing nuclear is only a small part of EU wide generation, and becoming increasingly unreliable. France has even higher electricity prices ATM due to nuclear outages. https://www.spglobal.com/platts/en/market-insights/latest-ne... |
To me the current situation seems more self-inflicted than driven by Russia. Also it looks like Gazprom is fulfilling its contract with Poland [1]. If my assessment is inaccurate please point me to some material for reading.
[1]: https://www.reuters.com/article/power-prices-russia-gas-pgni...