German energy regulator: winter supply is safe, focus on next season

"I don't expect something to go wrong this winter," Klaus Mueller was quoted as saying, adding Germany's gas storage facilities would likely be more than 50% full once the winter season ends.

Germany has enough gas to get through the current winter season without the risk of a supply emergency, the head of the country's network regulator told weekly Bild am Sonntag, adding the focus was now on the 2023/24 period. "I don't expect something to go wrong this winter," Klaus Mueller was quoted as saying, adding Germany's gas storage facilities would likely be more than 50% full once the winter season ends. Currently, levels stand at 90.97%.

"We are now focusing on the next winter." Mueller said gas prices, which soared during 2022 but have recently come down again, had reached a "plateau" level that would persist for the next 1-2 years.

But he added that three risk factors might bring prices back up: colder temperatures in the upcoming winter season, higher gas demand in China and the vulnerability of gas infrastructure, referring to the sabotage of the Nord Stream pipeline.