European Gas Prices May Be 20% Lower Than Forecast Next Summer
The region is heading into winter with stockpiles above the seasonal norm, a buffer against any short-term disruptions.
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European natural gas prices next summer may be 20% lower than currently estimated thanks to a decline in demand from power plants and ample supplies in storage, according to consultant Wood Mackenzie Ltd.
The region is heading into winter with stockpiles above the seasonal norm, a buffer against any short-term disruptions. There’s also been a drop in gas use for power, with renewables gaining market share, nuclear output rising and economic pressures weighing on industrial and household consumption.