- 14 February 2005
Shiver.What will the Europeans do during winter?
Literally so. Energy supply just isn't there in terms of volume.
LNG was extremely scarce on global markets before Russia invaded Ukraine. Hence the price shock in 2021.
Now we have the halting of gas supply from Russia which turns what was already a crisis into a nightmare.
Plus there's the major problems within the French nuclear industry at present.
Put that all together and some degree of demand reduction is unavoidable. It's not about consumers paying more to keep warm, it's about using less no matter what.