Demand destruction in Europe due to gas supply costs
December 01, 2021
Jeremy Nicholson, Petra Puskarova
In this week’s Resonance energy market podcast, Jeremy Nicholson talks to Alfa’s Dr Petra Puskarova about the energy price complex across Europe and what this could mean for prices as we head towards 2022.
In this week’s Resonance you will learn:
- Challenges of Russian flows and NordStream 2 realisation, despite higher volumes through routes such as Ukraine.
- Energy intensive users respond by shutting production due to high prices.
- Uncertainty over supplies is creating real challenges for energy buyers where already high prices and volatility have seen prices escalate further due to cold snaps.
- Oil prices plunge as the threat of a new Covid variant is confronted.
- Carbon hits new record highs and enters a new trading range.
- Considering all the above we look at similarly volatile power prices and ahead to what prices may reach in Q1 2022.