The high energy prices in the EU are now being felt all the way to the other side of the world. Gas is currently so much more expensive in Europe than in Asia that tankers carrying liquid gas are even being diverted from Australia to Europe, says analyst Natasha Fielding from the price reporting agency Argus Media. On Monday, the price of a megawatt hour of gas rose to a two-year high of €58. Things look correspondingly bleak on the electricity market – where the price is based on the generation costs for gas-fired power plants.