Here you can find a simplistic model to explain part of the energy price surge observed these days.

The Auction House problem:
A starting point of this surge is the commercialisation by Three Rings of the “starter” pack, that comes along with 7500 CE and several other bonuses. Even if the game is free-to-play, new players purchased it to ease their first footprints in the game, and some experienced players bought it as well to boost their equipment levelling. The side-effect of this pack is the introduction of fresh amounts of CE in the community. Unfortunately, this CE surge combo-ed with the new Auction House (AH) at our expense. Indeed, the AH trading currency is crowns and only crowns.
In AH, basic items or components can be bought using reasonable crown amounts, often less than 1000 crowns, with the exception of some rare 5* components. Lesser UV equipment parts are usually sold for less than 10k. Finally, alongside these relatively cheap items come also rare items, sold at high prices: (i) rare UV items such as “Very high attack speed” Caliburs, “Maximum! resistant” Wolver sets, “CTR very high” freezing bombs; (ii) and 4*-5* items remaining from before the May controversial update. These rare items can be sold at prices around 100k, and some players even propose prices as high as 1 000 000 crowns (no comment).
The side-effect of the AH trading currency being crowns and only crowns is that players are converting their CE bought with the pack into crowns, to directly purchase 2*-3* items at the AH, or to reach the amount of crowns needed to buy the priciest rare items.

How to speculate on the energy market:
The energy market possesses two interfaces: (i) a “beginner” interface, where players can directly buy or sell energy, at fluctuating and opaque market prices. This interface allows impatient or careless players to quickly earn CE or crowns; (ii) and an “advanced” interface, where players make instead bids at certain prices. This interface allows buying energy at lower prices than the beginner interface (or, conversely, gaining more crowns when selling energy). Here, you can see an illustration of the “advanced” energy market and its system of bids:

Buy 100 CE ///// Sell 100 CE to gain crowns
5234 x3 ///// 5341 x5
5233 x2 ///// 5342 x2
5232 x5 ///// 5343 x1
5199 x1 ///// 5345 x1
5198 x12 ///// 5348 x3

In this example, the highest bid to buy energy is 5234 crowns, and you can see that they are 3 bids at this price. Just under this bid, there are 2 bids at 5233 crowns, 5 at 5232 and so on. Conversely, the lowest bid to sell 100 CE is 5341 crowns. This bid is higher than the 5234 one because the energy selling is taxed at 2 %: 5341 x 0.98 = 5234, so the market is equilibrated (an important point). It is this bid interface that drives the “beginner” one: the highest bid to buy 100 CE gives the energy price on the “beginner” interface, and conversely the lowest bid to sell 100 CE gives the crown amount gained by selling energy. Naturally, clever players will play with their bids to buy CE quickly and at reasonable prices, adjusting their bids if the demand in energy is high for instance.

Now, let us examine what happens to the bid market when a player (who wants to purchase, for instance, a pricey item at the AH) suddenly sells a huge amount of CE: for instance 5000 CE at once. To gain cash quickly (to immediately win an ending auction for instance, or because the player is new, in the respectable sense of the term), the player uses the “beginner” interface, and thus instantly buys the 50 first bids in the column “Sell 100 CE to gain crowns”. The new bid market thus becomes:

Buy 100 CE ///// Sell 100 CE to gain crowns
5234 x3 ///// 5903 x1
5233 x2 ///// 5904 x1
5232 x5 ///// 5905 x4
5199 x1 ///// 5906 x1
5198 x12 ///// 5917 x3

as the 50 lowest bids in the “Sell 100 CE to gain crowns” column have been purchased.
This massive selling of energy induces a shock in the energy market, that temporally destabilizes it. However, the market would probably absorb the shock and heal itself (though it is absolutely not certain) if speculators, who have patiently waited this opportunity (and even initiated it, in fact), hadn’t entered in scene and played with the instability. Indeed, observing this new market configuration, a player clever enough can immediately notice that the market has just transformed into a crown generator.
If a speculator put a bid to buy energy at 5235 crows (see below) and a bid at 5902 crowns to sell energy, he will gain (providing he wins the bids) 5902x0.98 (the 2 % tax) – 5235 = crowns = 549 crowns. It is a 549 crowns net profit, for each 100 CE traded, gained by simply sitting in front of the energy market.

Buy 100 CE ///// Sell 100 CE to gain crowns
5235 x1 ///// 5902 x1
5234 x3 ///// 5903 x1
5233 x2 ///// 5904 x1
5232 x5 ///// 5905 x4
5199 x1 ///// 5906 x1
5198 x12 ///// 5917 x3

Due to a huge selling of CE, the market has thus turned into a crown generator. But is it an infinite generator? Not really, for two reasons: (i) there are not an infinite number of SK players; (ii) the greed of the speculators does happen to be infinite. To win the 549 cr profit, the speculator must first win his bids. This can be quite boring and long if the energy demand is low, and, worst, there are lots of sharks swimming in the muddy waters of speculation. To accelerate his profits and overwhelm his competitors, an impatient (and not very subtle) speculator can thus put a high number of bids at a high price:

Buy 100 CE ///// Sell 100 CE to gain crowns
5500 x100 ///// 5900 x100
5235 x1 ///// 5902 x1
5234 x3 ///// 5901 x1
5233 x2 ///// 5903 x1
5232 x5 ///// 5905 x4
5199 x1 ///// 5906 x1
5198 x12 ///// 5917 x3

Here comes the “walls” noticed by many players. The bids at 5500 are ridiculously high, so the impatient speculator can reasonably think that no one is going to put higher bids. And even at 5500, the speculator can make a 100x (5900x0.98 (the 2 % tax) – 5500) = 2820 crowns net profit: not that bad. But this type of greed is in fact ruining the market. Indeed, there are players that really need energy to play, to revive themselves or their teams, to craft items, to create guilds, and so on. These real players will have to put bids higher than the 5500 “wall”, hoping that they will quickly win them. And the market quickly becomes:

Buy 100 CE ///// Sell 100 CE to gain crowns
5512 x1 ///// 5890 x3
5510 x2 ///// 5891 x2
5503 x3 ///// 5895 x3
5500 x100 ///// 5900 x100
5235 x1 ///// 5902 x1
5234 x3 ///// 5901 x1

The energy price is thus increasing even more. As a result, the profits of the speculators are reduced, and slowed. To keep making profits, a speculator will thus move part of (or the totality) of his wall even higher (or a competitor will make the move before him):

Buy 100 CE ///// Sell 100 CE to gain crowns
5550 x50 ///// 5890 x53
5510 x2 ///// 5891 x2
5503 x3 ///// 5895 x3
5500 x50 ///// 5900 x50
5235 x1 ///// 5902 x1
5234 x3 ///// 5901 x1

The energy price will anew mechanically increase, until meeting the “Sell 100 CE to gain crowns” column lowest bid (minus the 2 % tax), where the speculation profit becomes zero, or even negative if the speculator lost too many bids. At this moment, the speculation automatically ceases, and the speculators momentary leave their screens to live their lives. Due to the combo “massive CE selling + speculation”, the energy price can thus quickly passed, for instance, from 5234 crowns to 5600 crowns per 100 CE, to finally begins stabilizing. But… here comes another player (or speculator) who bought the “starter” pack and makes a new massive selling of 5000 CE, unfortunately precipitating the come back of the speculators and a new rise in the energy price to the skies. And so on.

Solutions:
The scenario described upper is evidently simplistic, as the events mentioned are random. Anyway, to break the speculation chain and restrain the CE price rise, some solutions are possible, such as:
1) The soft way: allow the transactions at the AH to be made with CE. If items can be purchase with energy, CE rich players will no longer need to convert massive amounts of energy into crowns. This will reduce the frequency of the market shocks and, consequently, the build-up of the speculation price jumps. Some players can object that trading with energy can be sensitive to energy market fluctuations. The same comment can, however, be reversed: the real currency in this game is energy, thus from another point of view, it is the value of crowns that fluctuate.
2) The hard way: implement a rule that forbids selling more than (for instance) 1000 CE per day. It will naturally reduce the market shock amplitudes. On top of that, this solution will prevent rich new players to directly buy the best items in the game at the AH: to gain 100k crowns in order to buy a powerful item, 2 days will be needed, and even a 2-day auction will have closed then.

I personaly prefer the soft way - add CE currency in the AH - as it does not interfere with the players' freedom. But the second option is probably the most radical, and can fix another issue of the AH, the buying of high ranking items by new players.