Multi-month trend of record-high prices indicating global gas market distortion
Dramatic growth in prices on the global gas and electricity markets have led to a crisis that has already been analysed far and wide for months; however, the spectrum of causes and consequences of this situation has still not been adequately elaborated. Namely, analysts have been mostly neglecting that “echo of idealism” of energy policy (focused on the goals of a low-carbon society, but inadequately on a well-managed energy transition and energy security and sustainability issues) has finally contributed to an exceptional growth in the prices in energy markets. The increase in prices amounting to a few hundred per cent jeopardises the economy and households. It indicates a distortion of energy markets while implying the need to re-examine the sustainability of existing energy paradigms.
