https://sputnikglobe.com/20220709/biggest-german-landlord-to-turn-down-heat-for-tenants-amid-gas-shortages-1097124889.html
Biggest German Landlord to Turn Down Heat for Tenants Amid Gas Shortages
Biggest German Landlord to Turn Down Heat for Tenants Amid Gas Shortages
Sputnik International
Berlin previously admitted there is a "gas crisis" in the country and activated the second phase of its three-stage gas emergency program, urging citizens to... 09.07.2022, Sputnik International
2022-07-09T07:14+0000
2022-07-09T07:14+0000
2022-08-06T08:33+0000
germany
gas
heat
energy crisis in europe
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Vonovia real estate company, which considers itself the biggest provider of housing in Germany, announced it would turn down the heat for hundreds of thousands of residents in a bid "to save as much gas as possible."This decision would apply to 55% of its apartments, a spokesperson for the company said. Vonovia started applying a limit on its tenants' overnight heating systems, which stands at 17° Celsius (63° Fahrenheit). Hot water supplies won't be affected, the company stressed, noting, however, that "high energy prices" will likely result in higher utility bills.Germany has faced a fuel crisis as Berlin joined anti-Russia sanctions after Moscow launched its special op in Ukraine. The restrictions, imposed by the US and Europe, led to skyrocketing gas prices and fuel stockpiles quickly running dry.As a result, this week, the gas futures prices in Europe exceeded $1,900 per 1,000 cubic meters, surpassing the March 1 level. At the same time, Uniper, the largest buyer of Russian gas in Germany, asked the government for a bailout and additional debt funding, as, according to media reports, the corporation may need up to 9 million euros.According to the Economy Ministry, the country’s natural gas storage facilities are currently almost 61% full, which is lower than usual for the season. The authorities warned that the nation only has enough gas stored for two months if deliveries from Russia are halted.To add fuel to the flame, Germany is struggling with maintenance work on turbines for the Nord Stream 1 pipeline, which also resulted in a reduced gas flow for Europe.
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Evgeny Mikhaylov
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germany, gas, heat
Biggest German Landlord to Turn Down Heat for Tenants Amid Gas Shortages
07:14 GMT 09.07.2022 (Updated: 08:33 GMT 06.08.2022) Berlin previously admitted there is a "gas crisis" in the country and activated the second phase of its three-stage gas emergency program, urging citizens to save energy.
Vonovia real estate company, which considers itself the biggest provider of housing in Germany, announced it would turn down the heat for hundreds of thousands of residents in a bid
"to save as much gas as possible."This decision would apply to 55% of its apartments, a spokesperson for the company said. Vonovia started applying a limit on its tenants' overnight heating systems, which stands at 17° Celsius (63° Fahrenheit). Hot water supplies won't be affected, the company stressed, noting, however, that "high energy prices" will likely result in higher utility bills.
Germany has faced a fuel crisis as Berlin joined anti-Russia sanctions after Moscow launched its special op in Ukraine. The restrictions, imposed by the US and Europe, led to
skyrocketing gas prices and fuel stockpiles quickly running dry.
As a result, this week, the gas futures prices in Europe exceeded $1,900 per 1,000 cubic meters, surpassing the March 1 level. At the same time, Uniper, the largest buyer of Russian gas in Germany, asked the government for a bailout and additional debt funding, as, according to media reports, the corporation may need up to 9 million euros.
According to the Economy Ministry, the country’s
natural gas storage facilities are currently almost 61% full, which is lower than usual for the season. The authorities warned that the nation only has enough gas stored for
two months if deliveries from Russia are halted.
To add fuel to the flame, Germany is struggling with maintenance work on turbines for the
Nord Stream 1 pipeline, which also resulted in a reduced gas flow for Europe.
