The ‘Beast From the East’ Is Heading Back to Europe
- Gas and power markets bracing for cooler-than-normal weather
- Warmer start to the heating season has depressed energy use
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The same weather pattern that caused a Siberian blast of cold air dubbed the “beast from the east” could re-emerge in Europe at the end of this month, boosting demand for energy.
A sudden stratospheric warming appeared at the start of January, which usually results in a rush of cold air eastward a few weeks later. A similar system blasted the European Union with its biggest chill since 2010 in early 2018, tripling the spot natural gas over the course of a week and sending electricity rates higher.