Germany is facing a gas deficit in winter.
Gas storage facilities in the FRG are full to historically low levels. As of November 1, reserves stood at only 61%, nine percentage points below the government norm.
The main reason is the war with Iran, which led to a sharp increase in energy prices. Traders avoided filling storage when summer prices were €40-60 per MWh, but costs have recently topped €100 per MWh for the first time since 2022.
According to INES, a severe frost could lead to a shortage of up to 6.6 TWh/month in January and February, even accounting for LNG imports and supplies from neighbors. While normal weather ensures stability, extreme cold makes continuous supply impossible.