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Warm Weather Aided EU Gas Demand Savings

NATURAL GAS

Western Europe’s total gas demand in October was 22% lower than a year earlier as households, businesses and small industrial users reduced their consumption, according to data from EnergyScan.

  • Despite efforts to reduce consumption, gas to generate electricity actually increased due to less availability of nuclear and hydro power according to EnergyScan.
  • After adjusting for the warm weather European gas demand is estimated to have reduce by about 10% according to analysts at S&P Global Ratings.
  • A recovery of nuclear output and improving reservoir levels should help ease demand for gas used for power generation next year.
Energy BulletsCommodities
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