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PARIS: Record low water levels in Europe’s major rivers have curtailed the transport of goods, reduced electricity output and shrunk company earnings, stoking fears about the economic impact of searing heat and erratic rainfall. As Europe experiences the fastest warming of any continent and record-breaking heatwaves, drought has exposed the need to reconsider business practices.
From the bustling port of Rotterdam to hydropower plants in Serbia, waterways have become a less reliable way to transport goods such as grains and oil, or to produce much-needed electricity when millions are seeking to cool their homes.
“It’s affecting not one region like we’ve seen in the past, but the whole European landscape,” said Alessandro Armenia, a power analyst at commodities data and analytics firm Kpler. “Given the current dynamics, it means either we’re going to see blackouts or we need to invest way more.”
Hydropower, nuclear output cut
