Europe Is Already Facing Its Next Energy Crisis [Yahoo! Finance Canada]
RWE AG ORD S/ADR (RWEOY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Escalating tensions in Ukraine have contributed to about a 45% surge gas prices this year. While levels are still far below 2022 records, they are high enough to risk deepening a cost-of-living crisis for households and intensifying competitive pressure on strapped manufacturers. Gas storage is a lifeline during the coldest periods but inventories this year are rapidly declining after frosty temperatures increased demand for heating and a wind drought required more usage for power generation. Over two years since President Vladimir Putin weaponized energy, Europe is struggling to secure its energy system. The tight market reflects the continent's challenge to entirely wean itself off Russian fossil fuels. The situation is about to get worse with gas deliveries that helped fill reserves in 2024 likely unavailable next year, extending the squeeze on prices. “We still have problems with gas supply,'' Markus Krebber, chief executive officer of RWE AG, sai
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