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Europe Energy Crisis Worsens as War Risk Adds to Gas Woes (1)

Jan. 14, 2022, 4:04 PM

Europe’s energy crisis intensified as the risk of war pushed up gas prices, power-plant halts were extended and the French government asked its biggest utility to take a $8.8 billion hit to protect consumers.

Power and gas prices surged on Friday with the prospect of military action in Ukraine increasing as geopolitical tensions escalated. Meanwhile nuclear giant Electricite de France SA sank the most on record after the government said it must sell power at a steep discount, and several reactors faced long outages.

“The risk of a potential new war in Ukraine and the effects this could have on ...

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