ie, what's happening in Europe now[1]
Germany went on a spree, dismantling their nuclear plants after being scared by Fukushima. Fossil fuel plants tool their place. Subsidies to unsustainable alternatives and penalties on polluters made it so it was not profitable to increase energy supply on sources such as natural gas and fossil fuels that could ramp quickly in response to demand.
And the price of natural gas in Europe went parabolic.
[1] https://www.euronews.com/2021/10/28/why-europe-s-energy-pric...