European power markets have been largely insulated from the market turmoil caused by the near-halting of Mideast LNG shipments since March. Gas' role in influencing European power prices has eroded as a result — even as gas is set to remain a key fuel in Europe's power generation mix. This renewables cushion has limited the traditional sensitivity of European power markets to spikes in gas prices. Heat waves in Europe in June did partially shrink this power-gas price gap as the continent's energy use spiked and wind power generation fell. But the trend of gas playing a diminished role in setting European power prices is expected to continue.