(Montel) European energy and carbon prices rose sharply in Wednesday trading, buoyed by cold weather forecasts for January as well as on increasing concerns of disruption to key shipping routes amid terrorist activity in the Middle East.
European front-month gas on the benchmark Dutch TTF hub was last seen up EUR 1.64 at EUR 35.81/MWh.
It had earlier hit a nine-day high of EUR 37.35/MWh in response to colder weather forecasts for January and growing attacks on shipping in the Red Sea – a key conduit for the delivery of energy supplies to the region.
Temperatures in Germany, Europe’s key consumer, were…
