Why Europe’s Energy Crisis is Getting Worse

In this video, we’re going to look at why prices are rising again, why this isn’t great news for Europe, and how Europe may go about bringing prices down.

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References:
Europe’s gas prices peak

Germany’s ‘Dunkelflaute’

Germany’s electricity imports and exports

Global natural gas market

Europe’s gas supplies

Russia-Ukraine gas transit deal ends

Slovakia-Ukraine gas dispute

[maxlarur]

Macron on the thumbnail is incredibly misleading, France is one of the best placed European countries in regards to energy sovereignty and might even stand to gain from the crisis. Great channel though thank you for what you do!

[editorrbr]

Who knew that outsourcing your entire energy supply to geopolitical tyrants of uncertainty loyalty was a terrible idea?!

[znail]

Gas exports to Germany have nothing to do with Norway and Sweden electricity prices as they don't rely on gas, but there are electricity lines between the countries and both countries exports electricity to Germany. The reason why Sweden is upset is because those lines are there to even out loads not to let Germany skip investing in power infrastructure while relying on others to pick up the slack.

Sweden is also upset over Germany obstructing Sweden building new nuclear plants and that is rather rude while relying on Swedish electricity.

[krustykrabbulus]

There are some inaccuracies in the video that need clarification:
1. Germany’s final nuclear phase-out was passed after the Fukushima disaster, during chanchellor merkel, not under Olaf Scholz and was a decision supported by the broad majority at that time. It was a rollback to a passed law from 2002. (It was not started 2011, like previously stated). As a result, the operators of nuclear power plants began refraining from conducting maintenance for continued operation or purchasing fuel years before the Russia-Ukraine war.
2. Germany does have the capacity to produce electricity during periods of low renewable energy generation completely in germany. However, electricity from coal and gas power plants is significantly more expensive than other imported electricity, which unfortunately increases electricity prices across the entire EU.

[lasikreiser]

Germany became the stick in a bike wheel meme.

[stein-arne]

3:13 high energy prices in Norway have nothing to do with high gas export to Germany, but better power export capacity of electricity, they can buy norwegian hydropower. Norway have never used a lot of natural gas.

[jrko]

The current coalition didn't shut down Nuclear Power all of a sudden, this was already planned for like 10 years ago, the current coalition just executed the plan. Saying the Ample did this is exactly what the CDU wants everyone to think

[jamesgrover]

How exactly is it a "colder than normal winter"? We had the fifth warmest december on record in the Netherlands, and Eastern Europe has been above average.

[christophersolheim-allen]

Norway uses very little of its gas for domestic power production; the country is 90% hydro. Norwegian electricity prices are very high because electrical interconnectors have been installed to Europe and UK; Norwegians are competing with European electrical consumers.

[Cloud_Seeker]

From Sweden here. Gotta say I don’t agree that the winter is colder this year. It has barely been negative here. A few days ago there it was 7 degrees.
I remember when the winters used to be -15 or so. This is so far not even a winter. It is only just now the snow has showed itself, so it finally can become a winter.

[MidWitPride]

Waiting for the problems to resolve themselves has always been the issue in Europe. Significant portion of EU's problems could had been greatly mitigated by now if we had heavily invested in fixing them the moment the problem became evident. Instead it's half measures upon half measures, until years later we are still screwed, but slightly less so when compared to if we had done nothing. I know it takes time to rearrange industry, but 34 months (since the start of 2022 phase of the war in Ukraine) is not a short time either, and we should expect results by now.
Now we are getting caught our pants down by things anyone could had seen coming years ago. But I am not entirely unsympathetic to the wider issues here. EU is not an entity that can force through much of anything, but it is all a ballgame of short-term political convenience. For anything to go through it has to be a win/win situation for all, which often is not the case when doing massive strategic energy investments.

[bb]

The previous coalition phased out nuclear not the the current one. The current one just executed the phase out.

[NuSpirit_]

Glad my country (Slovakia) despite the faults it has, has bet on nuclear power. Having 2x 471MW Bohunice plant reactor and currently 3x 471MW Mochovce plant with fourth 471MW reactor under finishing touches, plus planning another 2 reactors for Bohunice plant somewhere between 600 and 1600 MWe, we have very low-to-almost-no-emission power generation. Coal plants are shut off and only gas plants remain in reserves when needed. Rest of it is via Nuclear, Hydro or Renewables. And we are exporter of electricity now.

[Bengt.Lueers]

7:10 Ending the european electricity market and grid is a very bad idea for many reasons. I understand populists are pushing for it, because it relatively easy to misunderstand. However, it can also be easily rectified: As a statistical effect, the larger powergrid will always be more stable, reliable and resilient. Compare other power systems like Japan, UK or the US for reference. You will find that the attractive sounding energy autarcy in practice leads to worse user experience than interconnectedness.

[ziaddakroub]

Who could have imagined that closing all of your Nuclear reactors during a period of looming energy crisis would creat problems?

[zaydalaoui]

Maybe a studpid question, but what did Germany do with its nuclear plants. Did they dismantle them all ?

[loeffelm]

Fun fact 1: France’s net power exports in 2024 reach 22-year high (89TWh)
Fun fact 2: electricity prices in France are set to fall by up to 14% in February 2025

[dhfconst]

Macron on the thumbnail is just wrong and misleading!

[DerDop]

I remember watching a debate on euro news vs a French energy expert and a German Green Party member. The French dude was simply mocking Germany’s energy policies, especially the closing of nuclear plants.
I’ll let you say who was right

[Tathagatchat]

Sitting in Oslo and saw the video. Checked electricity prices and realised the prices are going up. Shut down the heating even though temperature outside feels like -11 C