Uniper CEO warns of 'problem next winter' unless gas caverns fill swiftly
Uniper CEO warns of 'problem next winter' unless gas caverns fill swiftly
ReutersThu, May 28, 2026 at 7:21 AM UTC
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Uniper CEO Michael Lewis takes part in an interview at the company's Ratcliffe-on-Soar power station the day after it was taken offline in Ratcliffe-on-Soar, Britain, October 1, 2024. REUTERS/Phil Noble
FRANKFURT, May 28 (Reuters) - German state-owned utility Uniper has warned that the country's gas caverns are not being filled fast enough, its CEO said, calling for incentives to avoid a possible shortage in the next winter season.
• "Storage levels have been rising since March, but it's still far too slow," Michael Lewis told Frankfurter Allgemeine Zeitung
• Germany's gas caverns are currently filled at 30.64%, according to data from Gas Infrastructure Europe, compared with 38.65% a year ago
• Higher gas prices in the wake of the Iran war have made the storing of gas, which usually starts in spring months, less attractive
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• "If we don't fill the gas storage facilities quickly, we'll have a problem next winter," Lewis said
• Lewis argued in favour of the regulatory model practised in France, whereby prices are guaranteed by the regulator via so-called contracts for difference
• The Austrian model of a strategic gas reserve was only the second-best option for Germany, Lewis said
($1 = 0.8621 euros)
(Reporting by Christoph SteitzEditing by Madeline Chambers)
Source: “AOL Breaking”
