Energy CEOs Warn of Difficult Winter Ahead as Gas Rallies
- “High gas prices today are a problem for Europe,” Enel says
- European gas reached a record this year, power also surged
Photographer: Matthew Lloyd/Bloomberg
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European energy executives warned of a difficult winter ahead as natural gas prices soar to records, a grim prospect for households and businesses recovering from the global pandemic.
Gas prices in Europe are breaking records day after day as economies reopen and people return to the office, boosting demand just as supplies are falling short. That’s fueling inflation and boosting concerns energy-intensive industries from fertilizers to steel and even food makers will need to slow down.