EU and UK face winter gas shortage risk

Summarised from 2 outlets · Updated 9 Oct, 09:37 · Archive

The EU and UK risk severe gas shortages this winter if temperatures drop, with storage at historically low levels.

The EU faces a potential winter gas shortfall of up to 14 billion cubic meters, or around 7% of its demand. This is equivalent to the energy needed to power between 10 and 12 million European households. The warnings come from the Institution for Energy Economics and Financial Analysis and the European Network of Transmission System Operators for Gas, with the latter's report presented to national energy officials this week.

EU gas storage has fallen to its lowest level for the time of year since records began in 2011, at just above 70% capacity. The UK is particularly exposed to shortages because it depends on continental storage to cover shortfalls in its own supply. GB News reports that a prolonged cold spell could leave Britain's reserves depleted entirely. UK household energy bills have already climbed 4% to £1,723 per year as of October, and forecaster Cornwall Insight projects they will jump by a further £276 to reach £1,999 by January.

The shortages stem partly from high gas prices in summer, which made it more attractive for traders to sell gas than store it for winter. Global supply constraints due to the conflict in the Middle East have further tightened availability. The UK may be forced to purchase expensive liquefied natural gas from the United States if continental reserves fall short, a reliance that carries risks from potential policy shifts under US President Donald Trump.

How it is being reported

• UK gas supplies could run out this winter as Britain faces major energy crisis warningBritain faces the prospect of its gas reserves being completely depleted this winter if a prolonged cold spell strikes, a major new report has warned. The findings, published today by the European Network of Transmission System Operators for Gas, place the UK among the most vulnerable countries in Europe heading into the colder months. Household energy bills, which already climbed by four per cent to £1,723 a year in October, could surge further. Forecaster Cornwall Insight projects annual bills will jump by £276 to reach £1,999 by January. The report suggests that a severe drop in…GB News · 9 Oct, 09:28
• EU faces gas supply shortage as winter loomsThe EU's depleted gas storage leaves it vulnerable to a cold winter, new reports warn.Politico Europe · 9 Oct, 05:01

In this story: European Union · United Kingdom · Institution for Energy Economics and Financial Analysis · European Network of Transmission System Operators for Gas · Middle East · United States · Centrica

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