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ICYMI – Power supply outage in Lebanon and energy prices soar across Europe

Lebanon’s power supplies were restored on Sunday after a blackout the previous day when the country’s two biggest power stations shut down because of a fuel shortage. The closure piled further hardship on Lebanese struggling with job loses, soaring prices and hunger wrought by the country’s worsening financial meltdown.

Meanwhile, energy customers in the European Union and United Kingdom are facing record high gas and electricity prices, as their markets continue to suffer from depleted energy stock. The ongoing shortages are partly blamed on the sudden increase in energy around the world, as global economies recover from the COVID-19 pandemic.

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Lebanon restores power supply after complete halt

On Saturday, Lebanon’s two largest power stations, Zahrani and Deir Ammar plants, shut down due to fuel shortages, bringing the Lebanese power network to a complete halt.

Energy prices soaring across Europe

Gas storage sites in the UK and EU are currently at 76% capacity, down from the seasonal average of 90%, according to Gas Infrastructure Europe.

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