Europe Survives Winter Without Russian Gas, But Uncertainty Lingers on Prices and Shift to Renewables

• Europe has ample gas storage after surviving winter without Russian supplies, causing prices to fall, but experts say the crisis isn't over • Prices are still over double pre-pandemic levels and industrial gas demand remains 20% below, so a rebound could prevent further price drops • Lower prices are partly due to economic gloom from the crisis itself - rising bills have slowed demand, capping gas use • Weaker prices make it harder for renewable developers to displace fossil fuels as their costs are still high • This cycle of weak prices amid high renewable build costs may echo for another decade