EU Urges Gas Demand Cuts at 70% Storage as Prices Jump to €72/MWh

3 articles · Updated · Euronews · Sep 27

EU governments were told to keep curbing gas and electricity use as winter nears, with Brussels warning that high prices are increasingly becoming a supply risk even without an immediate shortage.
Gas storage is about 70% full—around 12 percentage points below a year ago—while Dutch TTF gas trades near €72/MWh, up about €40 since the 28 February US-Israel strikes on Iran.
Dan Jørgensen urged capitals to revive voluntary 2022-style measures, including peak-hour power savings, demand shifting, lower temperatures in public buildings and limits on outdoor heating and lighting.
The Commission also advised countries to avoid panic buying by using flexibility in storage rules and considering an 80% fill level instead of rushing toward the 90% target.
Middle East disruption, Asian competition for LNG and possible Norwegian export constraints could still push prices above €100/MWh this winter, increasing pressure on governments to shield households and businesses.