Europe’s economic woes likely to worsen

With European energy use set to peak over the coming months due to higher heating demand during winter, power costs could climb further. — Reuters

WHOLESALE power prices across key economies in mainland Europe have climbed to their highest levels in over a year, dealing a fresh blow to the region’s businesses that are already battling weak demand and fragile consumer sentiment.

Average wholesale base power prices in Germany, France, the Netherlands, Spain and Poland have climbed to their highest levels in at least 20 months so far in November, according to power market data compiled by LSEG.