Europe’s heatwave drives electricity prices to new highs as demand soars (opens original article in a new tab)

Europe's electricity prices rose sharply as heatwaves increased demand and disrupted energy generation, leading to record prices and reliance on imports.

• Electricity prices in Europe surged due to increased demand from heatwave-driven air conditioning use and reduced generation from wind and gas plants.
• Britain imported electricity at over six times the normal price on Tuesday to meet peak demand, with prices reaching multi-year highs.
• Wind power output dropped as high-pressure weather slowed wind speeds, while gas plants faced outages due to extreme temperatures.