The energy industry is instead faced with relying on “demand destruction," said Fabian Roenningen, an analyst at Rysted Energy. A return to lockdown like in Austria would help curb power demand, though few governments want to do that. The situation is already so dire this early in the winter season because of a blistering rally in natural gas prices. Analysts have warned that gas stores could drop to zero this winter if cold weather boosts demand. “It shows how exposed Europe’s power system is to the volatility in commodity prices," said Roenningen in Oslo.

Source: Mint November 29, 2021 01:32 UTC