High power prices in Europe are to stay as its been suggested...

High power prices in Europe are to stay as its been suggested that power prices will need to double next year. From EUR 60/MWh to EUR 120/MWh  this will be equivalent to US$0.14/kWh
At this power cost the price of alloys will need to rise further.


"Capping electricity prices for November, according to panelists, is only a short-term fix, while prices are expected to remain high until the end of the year and in the first quarter of 2022.
Experts say that electricity prices will not revert to levels seen before the ongoing energy crisis, of about EUR 60 per MWh, and that the average price in 2022 is projected to be around EUR 120 per MWh.
They recommend businesses to change the way they purchase electricity, proposing solutions such as trading on power exchanges, concluding corporate power purchase agreements with wind farms and solar power plants, and becoming prosumers by building their own electricity generation capacities."

The Ukraine is having considerable difficulties with Russia cutting back coal and gas supplies.

https://www.atlanticcouncil.org/blo...is-as-putin-weaponizes-gas-and-coal-supplies/

Serbia has frozen electricity prices to help business.

“Perfect storm” on electricity markets

Bratislav Džombić, director of market development at EPS, said at the panel that the government’s decision envisages three scenarios:
The first one is for EPS to extend power purchase agreements that expire on October 31 by one month, until November 30. The second is to offer fresh last resort supply agreements for November, at the same price, to customers whose agreements expire on October 31. The third scenario covers those with power purchase agreements that take effect on November 1 – they will be offered to have such agreements delayed until December 1.
Džombić also said that the government’s intervention was necessary because EPS could not have capped prices on its own in a liberalized market. The government had to opt for short-term measures so as not to violate market principles, he added.

Miloš Mladenović, managing director of the Serbian power exchange SEEPEX, said this “perfect storm” on electricity markets, which began this spring, is driven, among other things, by the economic recovery and rising demand for energy, a weaker supply of renewable energy, and inflation.
In the Western Balkan region, the poor hydrological situation has made matters even worse, reducing the output of hydropower plants, according to him. At the same time, the dramatic growth in carbon prices on the European market, from EUR 28 per ton in 2020 to EUR 60-65 per ton recently, coupled with market speculation, has pushed up the costs of power generation from coal and natural gas, he said.