Commodities and Futures News

Germany not experiencing gas shortage

2022.12.14 07:55


Germany not experiencing gas shortage

Budrigannews.com – The head of Germany’s energy regulator stated that the country is not currently at risk of a gas emergency that would necessitate rationing, but that households and businesses needed to maintain their savings efforts in light of the current cold spell.

“We are a long, long way from that,” Klaus Mueller, leader of the Bundesnetzagentur, told telecaster ZDF, highlighting Germany’s gas stockpiling levels, which stand at 92.45%. That contrasts with the European Union’s 87.34 percent.

“When it gets cold and people consume more, we can easily get by for one, two, or three weeks. “However, it must not continue in this manner in January and February, and we must anticipate the following winter, 2023/24,” he stated.

The regulator has stated that Germany must reduce its gas consumption by at least 20% by February 1 and that storage levels must not fall below 40% to prevent shortages.

More Costs of climate change rising and many countries cannot afford it

“Because it was warm in October and November, we have been careful about how much gas we use. We even lost a whole percentage point of gas storage on Monday, making December one of the coldest in ten years.”

According to Mueller, that level of depletion ought to remain an anomaly.

“So, my request, despite the cold: be cautious about how much gas you use.”

Germany not experiencing gas shortage

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