Winter Chill Coming to Europe Will Challenge Energy Systems [BNN Bloomberg (Canada)]
Maxar Technologies Inc. (MAXR)
Last maxar technologies inc. earnings: 3/2 04:08 pm
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Source: BNN Bloomberg
Long-range outlooks from Maxar Technologies Inc. and Marex point toward a higher probability of cooler-than-average conditions over most of the continent. Cold air will be blowing from the Arctic for at least the first part of the month because of a weather pattern known as blocking. “The cold start to December would yield increased demand in central and northern Europe, with the potential for this continuing into the latter half of the month if Arctic blocking remains strong,” said Matthew Dross, a Maxar meteorologist. “The main question we now face is how long this cold blocking feature will last.” A milder-than-normal autumn allowed utilities to refill their gas tanks, and the first prolonged cold spell will stress that storage. Benchmark European gas contracts are four times higher than normal for this time of year, leaving industry and households facing soaring costs. But it's not only Europe that needs to bundle up. Temperatures in Mongolia sank to -47C, according to the
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