Europe’s Natural Gas and Power Prices Jump as Cold Snap Begins

Power prices in Finland jumped to record-high levels as a deep freeze in Europe began in the Arctic parts of the Nordic countries and is set to move south to northwest Europe in the weekend and next week, creating additional energy demand and leading to higher electricity and natural gas prices.   In Finland and Sweden, heavy snow and freezing temperatures have prompted cancelations of some train services on Friday and during the weekend.   Day-ahead power prices in Finland hit a record-high and grid operator Fingrid warned on…