Experts in Britain consider it premature to talk about overcoming the energy crisis in Europe

LONDON, 7 March. /TASS/. Claims that European countries have already overcome the energy crisis due to the reduction in Russian gas supplies are premature. This is stated in a study published on Monday by the British consulting company Cornwall Insight.

“Forecasts for the level of gas storage filling in Europe next winter look much more positive than last autumn. With the risk of a gas shortage (on the European market) decreasing, many may regard this as Europe overcoming the peak of the energy crisis, but I would advise being more careful (estimated) Any factor can affect the speed and nature of replenishment of storage, – said the company’s lead analyst Matthew Chadwick. – We are not out of the danger zone yet.”

In his opinion, energy prices in Europe in 2023 are likely to be noticeably lower than last year, but still higher than before the coronavirus pandemic and the start of the Russian special military operation in Ukraine. “Whatever the outlook for storage fill levels, the need to offset volumes (gas supplies) via Russian pipelines and expensive and volatile liquefied natural gas (LNG) will keep gas bills higher,” the analyst said.

“This, at least for now, is the ‘new normal’. Consumers and economies should prepare for electricity costs to remain higher for some time than they were before the pandemic and the war in Ukraine,” Chadwick said. .

According to Cornwall Insight, the average occupancy rate for gas storage facilities in Europe over this winter period will be 55%, which will be the highest figure ever recorded, surpassing the 54% occupancy recorded in 2020. At the same time, by September, the level of occupancy of gas storage facilities may increase to at least 88%, experts added. At the same time, among the factors that may affect the degree of filling of gas storage facilities and the cost of gas in Europe, they named a further decrease in the volume of Russian gas supplies, demand for raw materials in East Asia, US LNG export performance and weather conditions.

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Deborah Acker

I write epic fantasy; self-published via KDP. Devoted dog mom to my 10 yr old GSD, Shadow! DM not a priority; slow response at best #amwriting #author.

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