EL7.AI
CommoditiesMedium•29 October 2026•
1 min read

EU Energy Ministers Meet to Address Price Crisis Ahead of Winter

Key Facts

1EU energy ministers are meeting to discuss the worsening energy price crisis as the winter heating season approaches.
2EU natural gas prices touched 100 euros per MWh on Wednesday, driven by supply concerns and low storage.
3Energy Commissioner Dan Jorgensen stated that refinery closures over the last 20 years were a mistake as diesel prices hit record highs.

EU energy ministers are meeting to discuss the worsening energy price crisis as the winter heating season approaches. OilPrice.com reported that EU natural gas prices touched 100 euros per MWh on Wednesday, October 28, 2026, driven by supply concerns and low storage levels. Energy Commissioner Dan Jorgensen stated that refinery closures over the last 20 years were a mistake that contributed to diesel prices hitting record highs.

European Union countries are entering winter with gas storage at approximately 75%, compared to the five-year average of over 80%. In comments cited by Reuters, Dan Jorgensen described the situation as very serious, with potential policy interventions including tax cuts and grid fee reductions to lower electricity bills, alongside easing technical requirements for refineries to boost production.

The European Union is scheduled to release GDP growth rate data for both the quarter and the year on October 30, 2026, which will clarify the economic impact of the ongoing energy crisis.