EU tells countries to curb energy demand as gas prices face winter squeeze
Energy Commissioner Jørgensen warned capitals that the EU is not facing an immediate gas-security crisis, but it is facing a price-and-supply squeeze that could become more difficult as winter approaches, according to a letter seen by Euronews.
The European Union is urging its member countries to curtail energy consumption as gas and electricity demand surge, warns EU Energy Commissioner Dan Jørgensen. In a letter circulated, Jørgensen cautions governments to continue reducing energy use in light of alarmingly low gas storage levels, which stand at around 70% - a significant drop from the same period last year.
This development is attributed to disruptions in the Middle East, intense competition from Asia for liquefied natural gas (LNG) deliveries, and a surge in EU gas prices following US and Israeli airstrikes on Iran. Analysts predict potential price spikes above €100 per MWh during winter if LNG exports from the Gulf fail to increase, or if Norway's maintenance extends export constraints.
Jørgensen advises countries to consider existing measures used during the 2022 energy crisis, such as curbing electricity use during peak hours, encouraging consumers to shift demand using smart meters and retail tariffs, lowering temperatures in public buildings, and limiting outdoor heating. While he does not mandate any action, he references national emergency plans that could enforce more drastic measures if conditions worsen.
Jørgensen suggests using EU gas storage rules to achieve an 80% filling target, rather than the more ambitious 90%, to avoid panic buying and price escalation. Despite the current low storage levels, Brussels remains cautious, stating there is no immediate risk to supply security.
Written by urgent.news from Euronews's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
