Odd Lots Just How Bad Will the Energy Crisis Be in Europe This Winter?
Aug 15, 2022
Javier Blas, a Bloomberg Opinion columnist and energy expert, joins Alex Turnbull, a hedge fund manager specializing in global energy markets, to tackle Europe's looming energy crisis. They discuss the staggering rise in electricity prices exacerbated by Russia's actions and concerns about gas supplies this winter. Blas and Turnbull explore the impact on households and industries, the struggles facing the French nuclear sector, and the pressing need for sustainable solutions amid soaring costs. They also touch on China's energy strategies and the intertwining of global and regional markets.
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Soaring Energy Bills
- Javier Blas recently bought a house in London, likely at the market peak.
- His energy bill will increase from £135 to £475 monthly.
Solar Panel Investment
- Alex Turnbull installed solar panels on his Australian property after his tenant suggested it.
- This reduced their power bill significantly and highlights the potential of substitution.
Factors Driving European Energy Prices
- Russia's gas restrictions are the biggest driver of high gas prices, while issues with French nuclear power affect electricity.
- Europe's energy future depends on Putin's actions, weather severity, and consumer savings.