in October after a cap on costs was lifted. The soaring prices looks set to force millions of people to curb consumption.
The French year-ahead contract rose as much as 25% to 1,130 euros a megawatt-hour on the European Energy Exchange AG Friday. The German equivalent also gained to a record, rising as much as 33% to 995 euros a megawatt-hour for a gain of about 70% this week. In oil market terms, it’s the equivalent of over $1,600 a barrel.EXPLAINER: Why Europe Is Crippled By a Wartime Energy Crisis
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