Germany’s Oil-Fired Generation Surges To 8-Year High

Germany’s electricity generation from oil surged to the highest since at least 2017 while gas-fired output soared to the highest in two years, as European power utilities prepare for a slump in wind energy. Meanwhile, German day-ahead power prices reached €222.18 a megawatt-hour for Wednesday on Epex Spot SE, their highest in a month. For some perspective, the contract has settled above €200 in less than 10 days over the past two years. Berlin is, however, still pushing its green agenda despite surging oil and gas demand. Back in…