In July, the European Commission’s Joint Research Centre published its “Drought in Europe – July 2022” report, which assessed Europe’s drought situation. According to the report, several regions within Europe have been experiencing severe drought since the beginning of the year which continues to expand and worsen.
This article aims to assess the current situation, how it has impacted hydro production across Europe, and what this could mean for associated Guarantees of Origin supply and pricing in 2022.
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