In the months of September, October and November, on average about ten percent less gas was consumed in Austria than in the years 2019 to 2021. At the same time, electricity production from gas is higher than in the past three years.
“We have seen savings beyond the weather, from households and from industry,” BOKU’s Johannes Schmidt said at a news conference. People are generally in a “good starting position”.
The reservoirs are very well filled, as good as never before. “The gas storages in Europe have been empty since Saturday”, and therefore relatively late in the year. “We were lucky with the weather, it was warm.” Savings in gas consumption have also been observed outside of the weather.
Lots of industry savings
Adjusted for the weather “in September and October there were savings of ten to 15 percent”, but in November the savings fell to five percent. “We assume that a lot of these savings will come from industry,” says Schmidt. Also in July and August gas had already been saved, mainly by the industry.
“Scarce electricity sector”
However, gas consumption for electricity production is higher this year than in the past three years. “We have a shortage in the electricity sector,” says Schmidt. The reason for this is that low rainfall and low water levels have dampened electricity production from hydropower. Another burden is that production from nuclear energy in France is currently well below target.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
