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EU warns of possible winter energy crisis
The European Union has issued a warning about the potential for an energy price crisis this winter due to the ongoing conflict in the Middle East, especially with European gas prices having more than doubled since the start of the war related to Iran, reaching high levels since late 2022. The European Commissioner for Energy called on member states to take measures to reduce demand and fill storage levels before the heating season. Currently, storage capacity is just over 70%, compared to an average seasonal level of 86%. Jorn Jörgensen proposed easing the pressure by lowering the storage fill target to 80% and using market flexibility, urging governments to support gas imports and reduce electricity consumption to prevent the crisis from worsening.
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