Europe’s Green Power Revolution Softens Iran Energy Price Shock

Europe’s power market is facing its first serious geopolitical stress test since the 2022 energy crisis — and, so far, it’s holding up.

German and French prices have been much more resilient than natural gas to the turmoil caused by the war in the Middle East, declining last week despite a surge in oil. High energy prices four years ago caused a deep inflationary shock that lasted years, but this time the continued investment in solar panels and wind turbines is helping to blunt any major price shocks.