London Power Prices Spike 5,000%, Relies On Belgium To Thwart Rolling Blackout

• London Power Prices Spike 5,000%, Relies On Belgium To Thwart Rolling Blackout
  by Tyler Durden, https://www.zerohedge.com/
  London’s power grid was pushed to the brink of failure following last week’s record-breaking heatwave. Javier Blas, a Bloomberg Opinion columnist covering energy and commodities, said power grid disruption hit the eastern part of the British capital for a brief period on July 20 as air conditioners were turned down and spiked power demand, resulting in a bottleneck on the grid.
  –
  British utilities had trouble pulling from other power-generating sources on the grid. They relied on Belgium via undersea water cables across the English Channel to increase power supply — boosting power prices to a record high of £9,724.54 (about $11,685) per megawatt hour. This is more than 5,000% versus average power prices of £178 (about $215) per megawatt hour. 
  –
  read more.

end