Eurozone | After a bad year, EU power sector’s gas use is set to drop
Better fundamentals and fewer operational setbacks should lower gross gas use by the EU’s power sector by 200TWh (5% of total gas consumption) next year, enhancing the bloc’s energy security. Renewables and nuclear should drive the supply side improvement, but risks remain.
What you will learn:
- Together with our cautiously optimistic baseline view on gas in 2023, this should weigh on gas prices and contribute towards another winter without hard energy rationing.
- Downside risks to power supply are weather-related and operational, as droughts and problems with France’s nuclear fleet demonstrated.
- After doubling down on the renewables rollout in May and agreeing on a windfall tax on inframarginal producers in late September, more significant interventions in wholesale electricity markets at the EU level are proving hard to agree.
Construction and Infrastructure Advice
Decades of experience combined with premier analytical frameworks enable us to provide you with the right advice at the right time.Find Out More
European Macro Service
A complete service to help executives track, analyse and react to macro events and future trends for the European region.Find Out More
Global Scenarios Service
Explore the implications of key risks to the world economy.Find Out More
Pricing and Cost Service
Monthly reports on commodity price trends and forecasts, as well as weekly briefings on the latest price action.Find Out More