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Europe's Green Energy Transition Faces Unexpected Hurdles

OilPrice.com Saturday, 21 December 2024 ()
Energy prices across Europe fell below zero for a record number of hours in 2024. An accelerated buildout of large-scale wind and solar farms has flooded European grids at peak production hours, causing surplus energy to be sold at a loss at increasingly frequent increments, for a grand total of 7,841 hours during the first eight months of this year. At their worst, prices have fallen below -€20 per megawatt hour, according to the consultancy ICIS. While rapidly expanding solar capacity is the main culprit for the price inversions, a decades-long…
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News video: Energy Crisis and Sanctions: Putin's Critical Meeting with Slovakia’s Fico Amid Gas Supply Breakdown

Energy Crisis and Sanctions: Putin's Critical Meeting with Slovakia’s Fico Amid Gas Supply Breakdown 03:17

 Russian President Vladimir Putin is set to meet with Slovakian Prime Minister Robert Fico, as European energy security faces new challenges. With the expiration of Russia-Ukraine gas transit agreements, Slovakia’s reliance on Russian gas is in jeopardy, prompting tensions and potential retaliatory...

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