Overview
- Industry data show storage near roughly 33–35 percent, the lowest end‑January level since records began, while the Bundesnetzagentur and the economy ministry describe the supply situation as stable.
- Wholesale prices jumped during the cold spell, with TTF front‑month contracts reaching about €43/MWh before easing back toward the high €30s later in the week.
- Reliance on liquefied gas remains a vulnerability, with around 92–95 percent of Germany’s direct LNG in 2025 coming from the United States and terminals covering only a limited slice of peak winter demand.
- Klaus Müller of the Bundesnetzagentur floated a national strategic gas reserve, and the economy ministry is reviewing an expert study that recommends options alongside adjustments to storage rules.
- Germany’s heating market slumped to its weakest sales since 2010 as gas and oil boiler purchases fell sharply and heat pumps surged, prompting Minister Carsten Schneider to press for swift clarity on new building‑energy rules.