Business · Energy & Commodities · 7 hrs ago
EU warns of high energy bills this winter, but expects no supply shortages
EU Energy Commissioner Dan Jorgensen warned of a difficult winter as oil and gas prices rise.
The European Union expects no general energy supply shortages, but says high bills could still leave people struggling to heat their homes.
Jorgensen said nearly 50 million Europeans already cannot adequately heat their homes, and that number could grow.
The EU uses 18% less gas than in 2022 and now gets gas from more suppliers, but the current crisis also affects oil and oil products.
Gas storage sites are 75% full, down from 83% a year earlier, while wholesale gas prices recently reached their highest level since December 2022.
Twelve EU countries pledged to release 42.6 million barrels from strategic reserves, including 20.5 million barrels of diesel.
They plan to release the oil by the end of January 2027 as Europe enters the winter heating season.
EU Energy Commissioner Dan Jorgensen said the bloc expects no energy supply shortages this winter, but high prices could leave many people struggling to pay their bills.
He said the Middle East crisis is driving very high prices for gas and oil products.
Nearly 50 million Europeans already cannot adequately heat their homes in a normal year, and Jorgensen said that number could rise.
EU gas storage sites are about 75% full, compared with 83% at the same time last year.
Twelve European countries pledged to release 42.6 million barrels of oil from strategic reserves in the coming months.
- Who
- EU Energy Commissioner Dan Jorgensen warned about high energy costs and said the bloc expects no supply shortages.
- What
- The EU expects a difficult winter, with high gas and oil prices likely to strain households and businesses.
- When
- The warning was made on October 29, 2026, ahead of the winter heating season.
- Where
- At a meeting of EU energy ministers in Luxembourg.
- Why
- Jorgensen linked the high prices to the crisis in the Middle East and said they could make energy unaffordable even if supplies remain available.
This story does not have two clearly opposing sides.
European wholesale gas prices briefly reached 100 euros per megawatt-hour for the first time since December 2022.
The European Commission began talks with refiners on ways to boost output, including potentially easing some technical specifications.
EU energy ministers met in Luxembourg as Jorgensen warned of high prices and a difficult winter.
Twelve European countries said they would release 42.6 million barrels of oil from strategic reserves.
- Gas storage
- About 75% full, compared with 83% a year earlier
- Gas consumption
- 18% lower than in 2022
- Russian gas share
- 45% in 2022
- Oil release pledge
- 42.6 million barrels by 12 European countries
- Diesel release
- 20.5 million barrels included in the pledge
- People unable to heat homes adequately
- Nearly 50 million Europeans in a normal year
3 sources
What people are saying
We do not expect the security of supply issue as such. But for the citizens that are struggling to pay the bills, that might not matter
I ministri di tutti gli Stati membri sanno che ci aspetta un inverno difficile. La crisi che stiamo attraversando a causa della situazione in Medio Oriente comporta prezzi molto elevati sia del gas che dei prodotti petroliferi
Normal bir yılda ne yazık ki yaklaşık 50 milyon Avrupalı evini yeterince ısıtamıyor. Avrupa'da bu yıl enerji fiyatlarının yüksek olması nedeniyle muhtemelen bu sayı daha da artacak
İthal fosil yakıtlara aşırı bağımlılık AB'nin enerji güvenliği ve rekabet gücü açısından en büyük risklerden