Climate scientists are predicting the return of the El Nino weather pattern later in 2023- this usually results in a much colder winter than average in northern Europe.
As Europe's last autumn & winter (ie from September 2022-March 2023) was, generally,muchwarmer than usual, the EU etc. did not use as much gas, oil, & coal -fired power for heating (ie cf average, cooler temperatures of their autumn & winters). Renewables' energy significantly declines over winter- more cloudy, rainy, snowy &shorterdays, wind turbines inoperative if covered with snow etc.
The EU built a massive stockpile of gas, coal etc. up to October 2022, fearing a cold, December 2022 winter- & the effects of the EU & UK bans on Russian fossil fuels, & possible energy shortfalls etc.
I suspect that these gas, coal etc. stockpiles will be severely depleted later in 2023, if the climate scientists predictions of an El Nino/ more colder winter in northern Europe eventuates. This will cause much more buying of all fossil fuel later in 2023, which should raise prices significantly...bodes well for WHC.
OnTheSnow 24.4.23 said
"The long-range weather forecast for winter 2023-2024 in Europe is looking very promising for skiers! Climatologists are predicting an El Niño winter, but what is it and how does this effect snowfall in the Alps?...
El Niño and La Niña have their biggest impact on global climate during theNorthern Hemisphere winter. So if the meteorologists are right and an El Niño is on the way, what does this mean for snowfall in the Alps? The last El Niño weather pattern happened in winter 2018-19 and we saw so much snow! After a warm start to the season, January 2019 broke one snow record after another. Austria reported seven metres of powder in seven days!...The largest effect is observed in northern Europe, where winters become drier and colder.A frosty 2023-24 winter season is likelyif El Niño ramps up sufficiently by then.” (Priestley International Centre for Climate, University of Leeds).
https://www.onthesnow.co.uk/news/long-range-weather-forecast-for-europe/
Caution, share price is too high, page-1357
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