European researchers investigate details of 2021–22 energy crisis
July 8, 2024, 3:00PMANS Nuclear Cafe
Average electricity price and the impact of the European electricity crisis. (a) and (b) The colormap shows the average day-ahead spot market price for each bidding zone before and during the European electricity crisis. (c) The colormap shows the ratio of the average price during and before the crisis. In some bidding zones, the prices increase up to a factor of almost six. (Image: AIP)
A statistical analysis of the factors behind the 2021–22 energy crisis in Europe is the subject of the article “Patterns and correlations in European electricity prices,” published in the journal Chaos: An Interdisciplinary Journal of Nonlinear Science. The study—conducted by researchers at the Institute for Energy and Climate Research at Forschungszentrum Jülich and the University of Cologne, both in Germany, and the Norwegian University of Life Sciences—describes reasons for the surge in energy prices that go beyond the commonly cited cause of Russia’s invasion of Ukraine.
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