EU Warns Member States of Potential Energy Price Crisis Ahead of Winter

The European Union has warned its member states of a potential energy price crisis ahead of winter due to disruptions in global oil and gas markets. The conflict in the Middle East is affecting energy prices, which have more than doubled since the start of the war.

European Energy Commissioner Dan Jorgensen said that the EU is facing a 'price crisis linked to a supply crisis' and called on governments to prepare for the winter season. He urged countries to consider measures that support pumping gas into storage facilities or reduce demand for gas and electricity, as long as the need arises.

The Commission notes that raising gas stockpiles ahead of the heating season is challenging due to higher spot prices making it less economically viable to pump additional quantities into storage facilities during the summer. Despite this, Jorgensen stressed that there are no immediate concerns about the security of gas supplies during the winter of 2026-2027.