German Of The Day: Unermesslich

That means immeasurable. You know, like die Preise steigen ins Unermessliche. Prices are going through the roof.

German Power Price Soars, Hitting 700 Euros for First Time Ever – Europe’s benchmark electricity price jumped more than 25% on Monday to pass 700 euros per megawatt-hour for the first time. The level is about 14 times the seasonal average over the past five years.

European gas and power prices surged as panic over Russian supplies gripped markets and politicians warned citizens to brace for a tough winter ahead.

Benchmark gas settled at a record high, while German power surged to above 700 euros ($696) a megawatt-hour for the first time. Russia said it will stop its key Nord Stream gas pipeline for three days of repairs on Aug. 31, again raising concerns it won’t return after the work. Europe has been on tenterhooks about shipments through the link for weeks, with flows resuming only at very low levels after it was shut for works last month.

“The catastrophe is already there.”

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