• <a fr-original-style="" href="https://www.bloomberg.com/news/articles/2022-08-10/german-power-hits-a-fresh-record-as-energy-crisis-heats-up" rel="noopener noreferrer" style="color: rgb(9, 9, 9); text-decoration: none; background-color: transparent; outline: none; cursor: pointer; transition: color 0.3s ease 0s; touch-action: manipulation; user-select: auto; box-sizing: border-box;" target="_blank">Benchmark German power prices</a> rose as much as 3.2% to a record €420 a megawatt-hour on the European Energy Exchange, more than five times what it was a year ago.&nbsp;<ul fr-original-style="padding-inline-start: 20px;" style="padding-inline-start: 20px; margin-top: 0px; margin-bottom: 1em; list-style-position: inside; box-sizing: border-box;"><li fr-original-style="" style="box-sizing: border-box;">Big picture: An ongoing heat wave and drought are set to severely restrict one of Europe’s key waterways for shipping energy supplies as wind power performs lower than the average output for this time of year, leaving the system more reliant on fossil fuel plants.</li><li fr-original-style="" style="box-sizing: border-box;">In other news: Germany's finance ministry is planning to <a fr-original-style="" href="https://www.reuters.com/markets/europe/germany-plans-tax-changes-help-households-cope-with-inflation-officials-2022-08-09/" rel="noopener noreferrer" style="color: rgb(9, 9, 9); text-decoration: none; background-color: transparent; outline: none; cursor: pointer; transition: color 0.3s ease 0s; touch-action: manipulation; user-select: auto; box-sizing: border-box;" target="_blank">raise income tax thresholds</a> and slightly increase child benefits in a bid to provide some relief to households against the highest inflation in the country in decades, officials said on Tuesday, but critics said the move benefited top earners most.</li></ul>

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