Recession fears unleash carnage across commodity markets, page-2

When will investors realise that companies with the worlds cheapest power will be ones to prosper, none more so than OM Holdings will a 20 year fixed price power contract.
Europes power is now more than 10 x the cost of OM Sarawak.

• German day-ahead power gained 3.2% to 325.48 euros per megawatt-hour in Epex Spot SE’s daily auction.
• The French equivalent climbed 8% to 362.06 euros per megawatt-hour
• OM Sarawak equivalent = 35 euro/MWh

EU preparing emergency plan for energy crisis

‘Energy prices are high. People -- rightly so -- expect us to do something about it,’ says head of European Commission


BRUSSELS
The EU Commission chief said they are working on a plan that will be announced in the middle of July over energy crisis.
The European Commission head Ursula von der Leyen held a joint press conference with Czech Prime Minister Petr Fiala in Czechia.
Referring to the motto of the Czech Presidency “ Europe as a Task: rethink, rebuild, repower", von der Leyen said that these elements are also on the agenda of the EU Commission.
“Energy prices are high. People -- rightly so -- expect us to do something about it,” Von der leyen said, adding they are working on the goals of switching from Russian oil and natural gas to other reliable suppliers, reducing demand through energy savings and efficiency, and finally switching to renewable energy.
Pointing out that the commission is working on an emergency plan to deal with possible gas shortages if Russia decides to suspend its deliveries, von der Leyen said: “We need a good, common plan that the energy flows, or the gas flows, where it is needed most.”