2023-10-11 09:40:30
It is increasingly likely that Europe will survive significantly warmer winter than usual, and this may reduce the demand for heating fuels, writes Bloomberg, quoted by “Investor”.
Data from the European Climate Change Service “Copernicus” show a minimum of 50% chance that all of Europe will experience well above average temperatures between December and February. There is a 60-70% chance that the Old Continent will exceed the average historical temperatures of the last three decades.
On Tuesday, Copernicus scientists updated their seasonal forecast used by farmers, insurance companies and utility companies to adjust to a warming planet. The unusually high temperatures may depress natural gas prices as winter approaches and provide some economic relief for Europeans.
The Copernicus program uses billions of measurements from satellites, ships, aircraft and weather stations around the world for its monthly and seasonal forecasts. Together with the European Space Agency, Copernicus plays a central role in the EU’s €16 billion effort to get ahead of climate change through accurate forecasting. It is already the largest provider of climate data in the world.
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