Thanks to mild October – gas storage tanks are over 90 percent full

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The level of gas storage in Austria is currently over 90 percent. The extremely mild October is responsible for this, because many households did not yet need to be heated.

This is especially true for well-insulated houses and apartments. According to ORF meteorologist Marcus Wadsak, October this year was 3.3 degrees warmer than the average over the years 1981 to 2010.

As a result, the gas storage level in Germany has risen to above 90 percent. The government’s target to increase the storage to more than 80 percent on 1 November has thus been amply achieved. In detail, according to AGSI databases, 87.9 terawatt hours are stored in the Austrian storage facilities. The annual consumption is just over 90 terawatt hours.

Full stores lowered the price
A consequence of full gas storage is that the share price has recently fallen. Specifically, the Austrian gas price index (ÖGPI) for November fell by 6.3 percent compared to the previous month. This is the first time since July. If there is no more storage capacity, this dampens the demand for gas.

Source: Krone

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