Want the lowdown on European markets? In your inbox before the open, every day. Sign up here . Germany and the rest of Europe are bracing for an expensive winter as power contracts for the next couple of months climb to unprecedented highs because of tight supplies of gas and coal. September power prices on the German day-ahead market averaged the highest in at least 20 years as surging gas, coal and carbon costs make it more expensive to generate electricity at the nation’s fleet of fossil-fired plants. Yet traders expect the charges to increase even more this winter with the benchmark Dutch gas contract crossing the key level of 100 euros last week and a fierce global struggle to secure coal supplies continuing. “An enormous price jump on especially the European coal market, with gas and carbon climbing as well, led to further gains on the German power […]