Netherlands gas storage falls short of 115 TWh winter target
Gasunie warns Dutch reserves will miss the 115 TWh filling target due to unprofitable summer purchasing. European prices reached €64 per MWh amid Strait of Hormuz fears.
The Netherlands is failing to meet its gas storage goals for this winter because filling reserves has become a losing business. Gasunie stated that market conditions prevented the country from reaching the 115 TWh target, which represents roughly half of total consumption. This national goal exceeds the European Union requirement of 74% capacity. Although missing the target does not guarantee a supply crisis, the firm warned that without new policy interventions, the nation cannot handle an exceptionally cold winter comparable to the harshest in thirty years. High summer prices, currently exceeding expected winter rates at €64 per megawatt-hour on Wednesday, stopped energy firms from buying and storing gas cost-effectively. These levels are more than double their start-of-year figures. While supplies remain stable under current conditions, the lack of stockpiling leaves the market exposed if severe weather strikes.
