What’s Behind the Energy Crunch in Britain and Europe

What’s Behind the Energy Crunch in Britain and Europe

What’s Behind the Energy Crunch in Britain and Europe Natural gas prices have skyrocketed, pressuring manufacturers and households with high energy bills. Just as economies seemed to be returning to something like normal, an energy crunch has hit Britain, the rest of Europe and much of the world. Natural gas, the main focus of this squeeze, is crucial for generating electricity, running factories and heating homes. It is also seen by some as a transition fuel away from highly polluting coal. Prices for natural gas have risen about sixfold, to record levels. The surge means the wholesale price of electricity has reached stratospheric levels, making headlines across Europe as consumers, battered by the pandemic, are now hit by big increases in their home energy bills. These high costs are also …
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