People will be freezing in the UK and Europe this year as the cost of power goes through the roof. Factories are closing due to expensive power and can no longer compete with Asia all due to the climate change idiots who think that a few solar panels and windmills will change the worlds climate.
Europe and the UK pay a price for energy “Greening”One factor is the "greening" of the energy supply around the world, particularly in Europe. Much of the current global environmental impetus culminating in the thinking of Co2 as a harmful gas has its origins on the Continent and has easily spilled over the Channel to the U.K. Over the last decade, European countries have shifted to wind and solar for electricity generation, in pursuit of
Paris goals and
NetZero carbon in 2050. They have paid a price for this greenness ass you can see in the chart below. By comparison, in much of the
U.S. utility rates average around $0.13 per KWH.
StatistaAs a recent
Wall Street Journal-WSJ article noted, this strategy is appearing a little fraught as over the summer months the wind stopped blowing, creating extra demand on what little gas supplies they had.
“The episode underscored the precarious state the region’s energy markets face heading into the long European winter. The electricity price shock was most acute in the U.K., which has leaned on wind farms to
eradicate net carbon emissions by 2050. Prices for carbon credits, which electricity producers need to burn fossil fuels, are at records, too.”
Last week two fertilizer factories in the
UK shut down because of high gas prices. When they will restart is anybody's guess. As is the knock-on effect on fertilizer prices. As could become food prices which have been soaring for a variety of reasons.
When we combine all of these factors and add in one final variable - the
chilly forecast for the winter in Europe, we have a troubling situation in the EU and UK for the next six to nine months.
