Articles in The Economist quote European natural gas prices in Euros per Megawatt Hour.
This strikes me as strange since the amount of power you get from burning gas surely depends on the efficiency of the process you use to convert it to electricity. In the US, natural gas prices are by volume (dollars per thousand or million cubic feet).
Or maybe Europe assumes some sort of ideally efficent process. (Google says one MWh is 7600 cubic feet of CH4...)
This strikes me as strange since the amount of power you get from burning gas surely depends on the efficiency of the process you use to convert it to electricity. In the US, natural gas prices are by volume (dollars per thousand or million cubic feet).
Or maybe Europe assumes some sort of ideally efficent process. (Google says one MWh is 7600 cubic feet of CH4...)