Despite lower-than-usual gas storage levels across Germany, RWE CEO Markus Krebber has expressed confidence regarding the nation’s energy security. While acknowledging that current storage figures are low for the season, Krebber stated that they do not yet warrant concern.
RWE’s storage facilities are currently 91% full and storage levels remain high in other European countries. These levels, combined with overall German storage at 73%, are considered sufficient to manage a typical winter.
Krebber anticipates stable gas prices, reflecting a market expectation of continued Russian gas supply disruptions and a moderately cold winter. He projects wholesale gas prices will remain stable at approximately 30 euros per megawatt hour. This represents a significant decrease from the record-breaking prices of over 300 euros per MWh seen in 1022, while still exceeding pre-energy crisis levels.
Regarding the possibility of restarting the Nord Stream pipelines, Krebber emphasized that a resolution to the conflict and robust security guarantees for Ukraine must precede any discussion of economic matters. He framed the situation as fundamentally a political question.
The statement comes amid calls for dialogue on the pipeline’s potential reactivation, including from Michael Kretschmer, Minister President of Saxony. RWE is linked to Nord Stream 1 through its stake in EON.
