Overview
- National storage stands in the mid-to-high 20s percent, with critical lows at key sites such as Rehden at about 7% and several Bavarian facilities in single digits.
- Federal officials say supply remains secure thanks to pipeline deliveries, chiefly from Norway, and expanded LNG capacity, with the gas market still functioning under the early warning stage.
- Analysts report a rare price pattern that lifts summer 2026 contracts above winter 2026/27, erasing traders’ usual incentive to store gas and raising concerns about refilling in time.
- The CDU/CSU urges a stronger state role and examination of a national reserve, echoing support from industry group BDEW and regulator Klaus Müller, while the government signals reluctance to repeat 2022-style state purchases via Trading Hub Europe.
- Regional strains deepen the debate as Bavaria’s Wolfersberg operator seeks permission to shut its storage site and the regulator reviews the case, with experts cautioning that another cold snap could push prices toward €40/MWh.