German power prices climbed to a fresh record, putting more pressure on industrial production and consumers struggling with a cost-of-living crisis. Rallying gas and coal prices and little sign of relief for Europe’s embattled power infrastructure are pushing electricity higher. That’s threatening the future of Germany’s industrial heartlands. This week’s prices are “unbelievable,” analysts at Energi Danmark wrote in a note. “The rally on the gas and coal market and the very high spot prices we see this week have given the already elevated market further momentum.” German year-ahead power, a benchmark for Europe, is on a nine-day rising streak. The contract rose 1.4% to a record 545 euros per megawatt-hour. Europe year-ahead coal futures climbed 2.1% to a record $311.50 a ton. Russia is squeezing gas flows to Europe as heat waves limit hydroelectric and nuclear production, weighing on power supply. Germany is attempting to use coal to […]