EnergyWatch

Record-high gas prices have European utilities plummeting

Stock developments for a number of energy players are impacted by the continual rise of prices on natural gas and electricity.

Photo: REBECCA NADEN/REUTERS / X03075

Several European utilities Wednesday dived on the stock market as a result of surging power prices prompting fear of legislation in the area.

On the broad European Stoxx 600 index, the energy sector closed at 2.7 percent lower than the day before, the deepest decline since July 2019 and more than any other sector right now. In comparison, the overall Stoxx 600 index dropped 0.7 percent.

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