Europe preparing for biggest winter cold snap: Impact on gas prices
Photo: A cold snap is expected in Europe (Getty Images)
By the end of the week, temperatures across Europe will drop sharply as low-pressure areas move across the region. Gas prices are going up, according to Bloomberg.
According to Weather Services International, on Friday and Saturday, January 4 and 5, the average temperature in London, Paris, and Berlin will be below zero, which is about 6 degrees below the 30-year average.
The UK Met Office expects snow in the coming days, as well as extreme winds and rain.
DWD forecasters are also warning of frost and ice across Germany.
Gas prices
The coldest period of this winter is likely to push up demand for heating. Gas reserves, which have fallen below 75%, will be used. Withdrawals are already happening faster than usual this year. This has pushed European natural gas prices to their highest levels since early December.
Currently, gas prices are around $535 per thousand cubic meters, up $100 from $435 a year earlier.
- In the UK, the average daily forecast is 17-degree days with a heating effect of 6-10 days, which is 5 more than the 10-year average.
- In northwestern Europe, the average daily air temperature is forecast to be 18 degrees Celsius for 6-10 days, which is 5 more than the 10-year average
- In France, the average daily temperature is expected to be 17 degrees Celsius with a heating effect for 6-10 days, which is 5 more than the 10-year average.
According to weather forecasters, Europe will experience the coldest winter since Russia's full-scale invasion of Ukraine.
