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European gas and electricity prices tumble as wind power surges
Elevated wind generation offers respite for energy supplies after recent cold blast
European energy prices tumbled on Monday, with natural gas futures hitting a six-month low as Storm Isha brought unseasonable warmth and boosted wind power generation. Wind generation in Germany is on course to hit a record later on Monday, topping the previous high reached just before Christmas, according to a Bloomberg model. “European natural gas prices have softened significantly mostly because this winter has largely been milder than normal,” according to Citigroup Inc.’s energy research strategists Anthony Yuen and Maggie Xueting Lin.
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