Winter is gone. But can we really say Europe's energy crisis is over?

Press quote (Euronews)
21 March 2023

Elisabetta Cornago, a senior energy researcher at the Centre for European Reform (CER), described the savings as an "impressive response" but said some of the changes, particularly the industrial cutbacks, were temporary rather than "structural."

"The behavioural response was driven by price level and the fear of how prices will impact your life. These fears and concerns led consumers to stay on the conservative side and try to limit the hours they had the heating on," Cornago told Euronews.

"Fears of shortages and blackouts were substantial, they weren't just a media stunt. The moment we realised French nuclear and hydropower were weak, the risk on the electricity front and the gas front became real."

..."As long as we're dependent on gas supplies for the economy and until the energy transition is completed, this vulnerability to the price of gas or to what gas suppliers decide to do will remain. Because of that, the state of alert will be there," Elisabetta Cornago said.

"We're not out of the woods."