Cold Weather Returns to Europe Just as Heating Season Ends [BNN Bloomberg (Canada)]
Maxar Technologies Inc. (MAXR)
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Source: BNN Bloomberg
The Nordic region is getting the worst of the Arctic blast this week, while Berlin is forecast to be 4.2C (7.6F) below average next Monday, according to Maxar Technologies. Paris, London and Amsterdam will also be colder than average for several days. “Below-normal temperatures gain significant coverage in the mid-continent by the mid period and southeast during the latter half of the 6-10 day forecast,” said meteorologists at Maxar. The cold snap means that energy demand will remain elevated slightly longer, even as the official heating season ends this month. Overall, a mild winter helped Europe navigate the energy crisis with hardly any natural gas from Russia, historically its biggest supplier. The region's gas storage sites are about 56% full, much higher than average for the end of the heating season. Maxar sees a total of 52.1 heating degree days, a measure of the energy needed to heat homes, for the continent over the next 6-10 days. That is above both 10 and 30-year
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