Colder temperatures drive up European gas demand

Giving me chills: colder temperatures across northwest Europe pushed gas demand above last year’s level in recent days.

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This has been largely driven by higher demand in the residential and commercial sectors, which more than doubled in the last 10 days.

And this highlights two things:

(1) as we approach the heating season, the temperature sensitivity of gas demand will increase.

(2) responsible consumer behaviour will be crucial to keep gas demand under control and reach gas saving targets set for the 2022/23 winter season. Yes, this includes colder room temperatures, shorter showers and saving on electricity when we can.

What is your view? Could a colder than average winter undermine the 15% gas demand reduction target?

What would be the impact on storage levels and on gas supply security? How to incentivise gas savings in the residential sector?

Source ; Greg MOLNAR