Governments in Sweden and Finland offered billions of dollars of guarantees to utilities to prevent a meltdown in energy trading when markets open Monday after Russia shut down natural-gas flows through a major pipeline to Europe.
Traders, analysts and energy executives say prices for natural gas and electricity—already at elevated levels—are likely to jump after state-controlled Gazprom PJSC extended a halt to flows through Nord Stream late Friday. Moscow blamed the suspension on technical problems.
Source: https://www.wsj.com/articles/europe-girds-for-energy-market-turbulence-after-russian-gas-cut-11662323365?siteid=yhoof2&yptr=yahoo