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Iran War Sparks Second European Energy Crisis

4/13/2026

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Story summary
  • The war in Iran has raised fuel prices in Europe, triggering a second energy crisis in five years.
  • Despite investments in wind and solar, results vary across countries.
  • Germany has more renewable capacity than Spain but faces higher electricity prices due to its energy market structure.
  • After Russia cut off gas in 2022, policymakers pledged over 40% renewables by 2030.
  • Pricing adjustments may be needed to better support renewable growth.