Free Trial

EC says Winter Manageable with Demand Reduction

NATURAL GAS

EC head of unit at the energy directorate Monika Zsigri warned against complacency despite the series of measures the EC has introduced to ensure winter supply security.

  • "As the heating season approaches, we still need to look at demand reduction," Zsigri said. "If extra supplies are difficult to obtain due to the global situation on gas supply, we have to look at demand."
  • "The situation for this winter is manageable, but it can become more difficult so we cannot be complacent." she said.
  • "First member states are called to reduce their demand voluntarily by 15%. But if the reduction is not enough, then a 'union alert' would trigger a mandatory obligation for member states to meet this 15% reduction."
  • Most member states have already reported a 15% reduction from areas such as power generation and industry.
  • Zsigri said there was still no decision on a proposed price cap on gas.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.