The Energy Crisis in Europe: Russian Gas Flows and Pricing Pressures

Since October 2021, the Russian gas cutoff has caused an energy crisis that has rocked all of Europe. Wholesale gas prices for this winter are more than 10x normal levels, with concerns that Germany and Italy may be physically short of gas. And due to the use of gas for power generation and with many French nuclear plants offline, wholesale power prices have also surged to unprecedented levels.

Unfortunately, forward curves suggest that this isn’t just an issue for winter: the energy squeeze could last for years.

Watch this expert briefing webcast featuring Deutsche Bank’s Head of European Utilities James Brand (18 years of industry experience) to better understand:

• How Europe can substitute Russian gas
• The outlook and risks around gas supply and demand for the winter in Germany & Italy
• The impact of sky-high wholesale gas & power prices on end customer bills