European Power Prices Surge to a 20-Month High

As Europe is bracing for the winter, wholesale electricity prices have jumped in November to the highest level in 20 months, additionally burdening the key industries in major economies that had just started to recover from the 2022 energy crisis. Average wholesale base power prices in Germany, France, the Netherlands, Spain, and Poland have soared to their highest levels in at least 20 months so far this month, per power market data by LSEG, cited by Reuters columnist Gavin Maguire. Prices in Italy, Europe’s third-largest economy after Germany…