EnergyWatch

High gas prices push coal to top of Europe's energy mix

Gas prices increasing tenfold has shifted the balance between coal and gas in the European power grid. The situation is akin to the time when the CO2 quota price was "very low" and will endure at least until winter's end, analysts say.

Photo: Tobias Nicolai

Aside from prompting concern over European supply security among Brussels politicians, the energy crisis has moved coal back into first place among fossil fuels.

"Right now, we're in fact seeing the same hierarchy in the energy mix as we did a long time ago, when the price of carbon quotas was very low. There was lignite first, then black coal, with gas flowing now and again," says Ingvild Sorhus, senior analyst at Refinitiv, to EnergyWatch.

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