Germany to keep nuclear power, but prices continue to skyrocket!

The Wall Street Journal reports that Germany is likely to keep the country's last 3 nuclear power plants operating. Previously, plans called for these plants to be extinguished by the end of this year. Of course, the tense energy situation most likely led to this decision.

Electricity prices, meanwhile, continue to rise in Germany. In one year it is a 500% increase! The price of next day's supply is at an even higher level, although theoretically this is where we should see some reaction, although this should probably take place later in the day. Nonetheless, much of Germany's power generation is based on gas and renewable energy. Unfortunately, it's been blowing less lately, which means more energy is needed from conventional sources. 

Electricity price for the year. Price of more than €500 per MWh. Source: Bloomberg

The price of energy for next-day delivery has been jumping significantly over the past few days. Source: Bloomberg