The decision by Gazprom to reduce gas flows to Europe, via the Nordstream 1 pipeline, by 80%, have led to big problems for Germany, because gas storage levels are nowhere near enough to last the coming winter. Many restrictions are now in place in major towns and cities throughout Germany in an attempt to limit gas usage. Restrictions such as taking shorter showers, cutting air conditioning and hot water in public buildings, and cutting street lighting at night have been implemented.
Most Germans have twigged that this Winter is going to be tough, and so they’re searching the internet for supplies of firewood. Searches for “Brennholz” (firewood) have gone crazy…
The only hope for Germans, and the whole of Europe, including UK, to be honest is that this coming Winter will be very mild. But, it is best to be prepared and so stocking up on firewood, propane and maybe preparing for the odd blackout are all good ideas. Wholesale energy prices are looking to stabilise in the middle of 2023, but that means unit prices will be high and there is no prospect of unit prices coming down anytime soon, if ever. In the UK, legislation means that fossil fuel energy companies will have no market after 2050, so, is it any wonder they are not increasing output and investment, instead taking profits while they still can?