German gas consumption higher YOY for fourth consecutive week: regulator

German gas consumption was higher year on year in the week ended Nov. 24 for the fourth consecutive week despite slightly weaker demand from the power and industrial sectors, data from the country's energy regulator showed Nov. 29.

According to Bundesnetzagentur data, total consumption in the week averaged 3.54 TWh/d, up 7% year on year. However, it remained down on the 3.81 TWh/d pre-crisis average for the week from 2018 to 2021.

Gas consumption in Germany has stayed significantly below pre-crisis levels from 2022 through 2024, with demand spiking during unseasonably cold weather, most recently in January and April, and during low wind periods.

German gas-for-power demand surged in October and early November due to low wind and solar power generation.

But in the week ended Nov. 24, industrial gas consumption -- including the power generation sector -- dropped back to an average of 1.8 TWh/d down from 1.86 TWh/d the week prior.

Household and small business gas use, meanwhile, rose to an average of 1.74 TWh/d, surging 23% on the week as temperatures turned colder.

In its update, the regulator said that while gas flows to Germany were stable, "economical" gas consumption remained important.

Price levels

The year-on-year rise in gas consumption levels came despite continued high European gas prices.

Platts, part of S&P Global Commodity Insights, assessed the benchmark Dutch TTF month-ahead price at Eur48.58/MWh on Nov. 21 -- the highest assessment since November 2023. It was last assessed on Nov. 28 at Eur46.37/MWh.

Germany has also seen net withdrawals from its storage sites in recent weeks given the strong demand, with stocks currently built to 92% of capacity, according to data from Gas Infrastructure Europe, down from 94% a week earlier.

Germany met its final gas storage target of 95% fullness for 2024 at the end of August, well ahead of its self-imposed Nov. 1 deadline.

However, Germany's gas storage industry is increasingly concerned about the refilling of storage facilities next summer, with current price signals not providing sufficient incentive for injections, industry group INES said Nov. 14.

Germany, which has the largest gas storage capacity in the EU, set strict storage targets in mid-2022, exceeding those agreed at the EU level.

The Gas Storage Act, effective until at least April 2027, requires Germany to fill its facilities to 85% by Oct. 1, 95% by Nov. 1 and to have stocks built to at least 30% by Feb. 1 each year.