Wholesale Gas Prices Fall As Europe S Plan To Avert Winter Energy Crisis Takes Shape Gas

The price of natural gas for Friday delivery fell 21% from Wednesday night’s price of 405 p.m. per heat to 320 a.m., as the European Commission confirmed it was working on “emergency measures” and the German government said it was “prepared” for winter. UK wholesale gas for delivery next week fell 9% to 350p. while next month’s price fell 6% to 431p. on Thursday. Earlier this week, the day-ahead price fell from 447 p.m. after the European Commission announced that it was “firmly” working on an emergency package as well as considering structural reform of the electricity market. The European Commission said on Thursday it is considering options to cap energy prices and reduce electricity demand as part of its upcoming proposals to tackle rising energy costs. Mechthild Wörsdörfer, deputy director-general of the Commission’s energy department, told a meeting of the European Parliament’s energy committee: “There is work to be done on emergency measures for electricity prices. There may also be some reduction in demand for electricity.” The head of the European Commission, Ursula von der Leyen, will outline the Commission’s ideas for curbing energy prices in a speech on 14 September. European countries rushed to fill natural gas storage facilities after Russia cut supplies to Europe. Germany is one of the nations most exposed to potential gas shortages and there are fears that – if the Kremlin cuts off supplies altogether – its economy could fall into recession. However, the German Minister of Economy and Climate, Robert Habeck, said that the necessary preparations for this winter have begun. “That’s why we have answers and progress that allows us to be prepared for winter,” he said. Earlier this week, German Chancellor Olaf Scholz said his government had “taken too long-term decisions too quickly”. City analysts at Bernstein said: “German leaders see the country as well equipped to weather the coming winter in the ongoing energy crisis.” However, Habeck warned that the work to secure natural gas supplies is not yet complete. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Gas market traders are looking to see if Russian state gas giant Gazprom will bring the Nord Stream 1 pipeline under the Baltic Sea back into service after a three-day maintenance shutdown that began on Wednesday. European gas storage facilities are now almost 80% full on average, approaching the EU target for countries to meet 80% by 1 November. Researchers at Wood Mackenzie predicted high gas prices would push European demand to 7% below the five-year average in the months to March, leaving a “best case scenario” of storage levels at 31% at the end of winter. Massimo Di Odoardo, vice president of natural gas and liquefied natural gas (LNG) research at Wood Mackenzie, said: “Strong LNG imports and non-Russian pipelines helped push European gas storage levels to 80% at the end of August, exceeding expectations. “We expect this to increase to 86% by early October. If Russian flows from Nord Stream continue at current levels after the three-day maintenance in September, Europe could be able to get through this and next winter without cuts in demand.” Separately on Thursday, the Office for National Statistics said the average UK gas price rose by 30% in the week to August 28, the highest level so far in 2022.

title: “Wholesale Gas Prices Fall As Europe S Plan To Avert Winter Energy Crisis Takes Shape Gas Klmat” ShowToc: true date: “2022-11-04” author: “Carolyn Elia”

The price of natural gas for Friday delivery fell 21% from Wednesday night’s price of 405 p.m. per heat to 320 a.m., as the European Commission confirmed it was working on “emergency measures” and the German government said it was “prepared” for winter. UK wholesale gas for delivery next week fell 9% to 350p. while next month’s price fell 6% to 431p. on Thursday. Earlier this week, the day-ahead price fell from 447 p.m. after the European Commission announced that it was “firmly” working on an emergency package as well as considering structural reform of the electricity market. The European Commission said on Thursday it is considering options to cap energy prices and reduce electricity demand as part of its upcoming proposals to tackle rising energy costs. Mechthild Wörsdörfer, deputy director-general of the Commission’s energy department, told a meeting of the European Parliament’s energy committee: “There is work to be done on emergency measures for electricity prices. There may also be some reduction in demand for electricity.” The head of the European Commission, Ursula von der Leyen, will outline the Commission’s ideas for curbing energy prices in a speech on 14 September. European countries rushed to fill natural gas storage facilities after Russia cut supplies to Europe. Germany is one of the nations most exposed to potential gas shortages and there are fears that – if the Kremlin cuts off supplies altogether – its economy could fall into recession. However, the German Minister of Economy and Climate, Robert Habeck, said that the necessary preparations for this winter have begun. “That’s why we have answers and progress that allows us to be prepared for winter,” he said. Earlier this week, German Chancellor Olaf Scholz said his government had “taken too long-term decisions too quickly”. City analysts at Bernstein said: “German leaders see the country as well equipped to weather the coming winter in the ongoing energy crisis.” However, Habeck warned that the work to secure natural gas supplies is not yet complete. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Gas market traders are looking to see if Russian state gas giant Gazprom will bring the Nord Stream 1 pipeline under the Baltic Sea back into service after a three-day maintenance shutdown that began on Wednesday. European gas storage facilities are now almost 80% full on average, approaching the EU target for countries to meet 80% by 1 November. Researchers at Wood Mackenzie predicted high gas prices would push European demand to 7% below the five-year average in the months to March, leaving a “best case scenario” of storage levels at 31% at the end of winter. Massimo Di Odoardo, vice president of natural gas and liquefied natural gas (LNG) research at Wood Mackenzie, said: “Strong LNG imports and non-Russian pipelines helped push European gas storage levels to 80% at the end of August, exceeding expectations. “We expect this to increase to 86% by early October. If Russian flows from Nord Stream continue at current levels after the three-day maintenance in September, Europe could be able to get through this and next winter without cuts in demand.” Separately on Thursday, the Office for National Statistics said the average UK gas price rose by 30% in the week to August 28, the highest level so far in 2022.

title: “Wholesale Gas Prices Fall As Europe S Plan To Avert Winter Energy Crisis Takes Shape Gas Klmat” ShowToc: true date: “2022-10-21” author: “Cheryll Medford”

The price of natural gas for Friday delivery fell 21% from Wednesday night’s price of 405 p.m. per heat to 320 a.m., as the European Commission confirmed it was working on “emergency measures” and the German government said it was “prepared” for winter. UK wholesale gas for delivery next week fell 9% to 350p. while next month’s price fell 6% to 431p. on Thursday. Earlier this week, the day-ahead price fell from 447 p.m. after the European Commission announced that it was “firmly” working on an emergency package as well as considering structural reform of the electricity market. The European Commission said on Thursday it is considering options to cap energy prices and reduce electricity demand as part of its upcoming proposals to tackle rising energy costs. Mechthild Wörsdörfer, deputy director-general of the Commission’s energy department, told a meeting of the European Parliament’s energy committee: “There is work to be done on emergency measures for electricity prices. There may also be some reduction in demand for electricity.” The head of the European Commission, Ursula von der Leyen, will outline the Commission’s ideas for curbing energy prices in a speech on 14 September. European countries rushed to fill natural gas storage facilities after Russia cut supplies to Europe. Germany is one of the nations most exposed to potential gas shortages and there are fears that – if the Kremlin cuts off supplies altogether – its economy could fall into recession. However, the German Minister of Economy and Climate, Robert Habeck, said that the necessary preparations for this winter have begun. “That’s why we have answers and progress that allows us to be prepared for winter,” he said. Earlier this week, German Chancellor Olaf Scholz said his government had “taken too long-term decisions too quickly”. City analysts at Bernstein said: “German leaders see the country as well equipped to weather the coming winter in the ongoing energy crisis.” However, Habeck warned that the work to secure natural gas supplies is not yet complete. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Gas market traders are looking to see if Russian state gas giant Gazprom will bring the Nord Stream 1 pipeline under the Baltic Sea back into service after a three-day maintenance shutdown that began on Wednesday. European gas storage facilities are now almost 80% full on average, approaching the EU target for countries to meet 80% by 1 November. Researchers at Wood Mackenzie predicted high gas prices would push European demand to 7% below the five-year average in the months to March, leaving a “best case scenario” of storage levels at 31% at the end of winter. Massimo Di Odoardo, vice president of natural gas and liquefied natural gas (LNG) research at Wood Mackenzie, said: “Strong LNG imports and non-Russian pipelines helped push European gas storage levels to 80% at the end of August, exceeding expectations. “We expect this to increase to 86% by early October. If Russian flows from Nord Stream continue at current levels after the three-day maintenance in September, Europe could be able to get through this and next winter without cuts in demand.” Separately on Thursday, the Office for National Statistics said the average UK gas price rose by 30% in the week to August 28, the highest level so far in 2022.

title: “Wholesale Gas Prices Fall As Europe S Plan To Avert Winter Energy Crisis Takes Shape Gas Klmat” ShowToc: true date: “2022-11-15” author: “Lillie Turner”

The price of natural gas for Friday delivery fell 21% from Wednesday night’s price of 405 p.m. per heat to 320 a.m., as the European Commission confirmed it was working on “emergency measures” and the German government said it was “prepared” for winter. UK wholesale gas for delivery next week fell 9% to 350p. while next month’s price fell 6% to 431p. on Thursday. Earlier this week, the day-ahead price fell from 447 p.m. after the European Commission announced that it was “firmly” working on an emergency package as well as considering structural reform of the electricity market. The European Commission said on Thursday it is considering options to cap energy prices and reduce electricity demand as part of its upcoming proposals to tackle rising energy costs. Mechthild Wörsdörfer, deputy director-general of the Commission’s energy department, told a meeting of the European Parliament’s energy committee: “There is work to be done on emergency measures for electricity prices. There may also be some reduction in demand for electricity.” The head of the European Commission, Ursula von der Leyen, will outline the Commission’s ideas for curbing energy prices in a speech on 14 September. European countries rushed to fill natural gas storage facilities after Russia cut supplies to Europe. Germany is one of the nations most exposed to potential gas shortages and there are fears that – if the Kremlin cuts off supplies altogether – its economy could fall into recession. However, the German Minister of Economy and Climate, Robert Habeck, said that the necessary preparations for this winter have begun. “That’s why we have answers and progress that allows us to be prepared for winter,” he said. Earlier this week, German Chancellor Olaf Scholz said his government had “taken too long-term decisions too quickly”. City analysts at Bernstein said: “German leaders see the country as well equipped to weather the coming winter in the ongoing energy crisis.” However, Habeck warned that the work to secure natural gas supplies is not yet complete. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Gas market traders are looking to see if Russian state gas giant Gazprom will bring the Nord Stream 1 pipeline under the Baltic Sea back into service after a three-day maintenance shutdown that began on Wednesday. European gas storage facilities are now almost 80% full on average, approaching the EU target for countries to meet 80% by 1 November. Researchers at Wood Mackenzie predicted high gas prices would push European demand to 7% below the five-year average in the months to March, leaving a “best case scenario” of storage levels at 31% at the end of winter. Massimo Di Odoardo, vice president of natural gas and liquefied natural gas (LNG) research at Wood Mackenzie, said: “Strong LNG imports and non-Russian pipelines helped push European gas storage levels to 80% at the end of August, exceeding expectations. “We expect this to increase to 86% by early October. If Russian flows from Nord Stream continue at current levels after the three-day maintenance in September, Europe could be able to get through this and next winter without cuts in demand.” Separately on Thursday, the Office for National Statistics said the average UK gas price rose by 30% in the week to August 28, the highest level so far in 2022.