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European power crunch continues

A four-day week is mooted for Germany as big questions remain over Russian gas supply in the coming months
European power crunch continues
  • Russian gas supply into German down to 40 per cent of capacity, sending power prices up again
  • Bleak forecasts for winter across Europe and UK

Key European energy sector players are already getting ready for a winter without Russian gas after supply into Germany was dramatically reduced, raising fears of further price rises and rationing.

Already, businesses and consumers across the UK and the continent are calling for more government handouts to cope with gas price hikes. Russia’s decision to further reduce supply into Germany – which Gazprom put down to a lack of necessary parts - has seen exports in the Nord Stream 1 pipeline fall to 40 per cent of capacity. 

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