/biz/ - Business & Finance

I work in power, let me put Euros looming power problem into perspective.

Rates in US (which are already up 100% YoY) are $200-$300 per MWh. In EU winter contracts are already going for more than $1,000 per MWh. As a more experienced colleague of mine put it, these prices are at a "civilization destabilizing level." Combine this with rising food prices and other costs of living, you have a veeeery bad situation brewing. Hopefully something soon changes course in the global economy, but it looks unlikely at this point. GL euros, I do not envy you. Stock up and get your social network of people you trust in order while you have the chance.