OSLO/COPENHAGEN ¨C Wind speeds were milder than usual in Europe this year, so windmills across the bloc generated less electricity, worsening a crunch that sent power prices to record highs as utilities had to buy more coal and scarce, costly, natural gas.
The situation illustrated a challenge facing the European Union as it tries to boost renewable power and meet its climate targets: Power prices can soar when the wind dies down, so generators need ways to store some of the excess power when winds are strong.
¡°If we had high winds or just reasonable winds over that period, we wouldn¡¯t have seen these price spikes,¡± said Rory McCarthy, principal analyst at Wood Mackenzie.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.