“The skyrocketing electricity prices are now exposing, for different reasons, the limitations of our current electricity market design,” von der Leyen said in a speech at the Bled Strategic Summit in Slovenia, pointing out what has been obvious for years to those who warned repeatedly that Europe should probably not take make its energy policy based on the idiotic ravings of a self-absorbed, petulant, Scandinavian teenager. “It was developed under completely different circumstances and completely different purposes.”
Ah yes, it’s the “circumstances and purposes” that are at fault, not Europe’s catastrophic “green” push over the past decade that left the continent at the mercy of Putin [gasp, choke, gag] . . . .
“Europe Plans ‘Emergency Intervention’ In Power Market As All Hell Breaks Loose.” By Tyler Durden, ZeroHedge, 8/29/22.