It’s getting cold: estimated space heating demand jumped to above 1 bcm/day amidst Europe’s first winter cold spell.
After an unseasonably mild start of the heating season, temperatures across Europe plunged below their 5y average, driving up sharply space heating demand in the residential and commercial sectors.
Latest data estimates indicates that distribution-network related demand jumped by around 40% in the last two weeks, to above the 1 bcm/d mark and above last year’s levels.
Total EU+UK gas demand is still trending below last year’s levels, down by 5% in the first 12 days of December. this is mainly due to lower gas use in industry and demand saving measures in buildings.
The current cold spell is a stark reminder of the importance of continued gas demand savings for a safe and secure winter.
What is your view? Could cold spells stress test the European gas system this winter? How can we reduce our exposure to weather in the future?
Source: Greg MOLNAR
European Gas Hub is an online platform for sharing analysis and information about European natural gas markets more info
Sign up to receive our weekly newsletter with new European gas market reports, presentations & analysis. Every Tuesday.
By signing up, I agree to our TOS and Privacy Policy.
© 2020 EuropeanGasHub | All Rights Reserved
