The EU is well-positioned for the upcoming winter and beyond, with record-high gas storage reaching approximately 97.5% by the end of November.
This storage level minimises the risks of energy shortages, placing the EU in a stronger position than anticipated for refilling gas storage in the next winter, according to Moody’s Investors Service analysis.
The positive energy reserves entering the winter season are attributed to effective government actions on both supply and demand fronts.
Furthermore, consistent energy savings by households and companies, even amidst lower energy prices, contribute to the improved energy balance.
The availability of liquefied natural gas in 2023, increased nuclear and hydropower plant availability and a projected mild winter further enhance the supply and demand equilibrium.
Moody’s baseline scenario suggests that there will be no supply-demand gap this winter, reducing the likelihood of gas shortages.
Gas storage is expected to be around 55% at the end of March 2024 in the baseline scenario, a level higher than previously anticipated.
