Europe’s gas market enters Q3 2022 on the edge of a precipice, with curtailed Russian supplies prompting emergency plans, a first step towards rationing, reports Platts.
Efforts to reduce gas-for-power demand
In the power sector, efforts to reduce gas-for-power demand have been compromised by record-low nuclear availability and sub-par hydro resource.
As a result, gas and power prices across Europe are more than four times higher year on year, while EUA carbon prices have climbed 47% over the same period.
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Source: Platts
