A mandatory power demand cut proposal may be worth discussing; while this would also require demand-cut cooperation from residential sector and commercial sector such as turning off the streetlights after midnight or reduce heating in public buildings, Trend reports with reference to Rystad Energy.
The latest report from Rystad Energy reveals that despite the soaring European gas prices, the region’s total gas-for-power demand only fell about 2 percent in the first eight months of this year from the same period of 2021, to about 1,978 TWh.
“Meanwhile, gas-fired power generation for August of 232 TWh was only 1 percent lower than the same month last year, which suggests that gas demand from the power sector is hardly falling at all. Industrial users have reduced gas demand more, particularly the chemical and fertilizer industries,” the report says.
Rystad Energy notes that gas demand from industrial customers dropped 21.3 percent in July and 22 percent in August, according to government agency BNetZA.