Europe’s Energy Crunch: A Perfect Storm Brewing Over Winter The prospect of natural gas prices topping 100 euros per megawatt hour in Europe this winter serves as a stark reminder that the continent is on the brink of an energy crisis.
The warning signs have been building for months, driven by a complex interplay of geopolitics, weather patterns, and infrastructure constraints.
Historically low gas inventories are a major concern, with EU storage levels at around 63%, roughly 18 percentage points below the five year average.