Europe's energy crisis is getting worse according to a senior analyst.
The scale of the crisis would probably be eight, according to Ronningen. That is how bad it is right now. It's a good way of describing it.
Germany, France, and others are worried about supply shortages this winter due to Europe's energy crisis.
The price of natural-gas in Europe soared after Russia slashed the flow of gas through the Nord Stream 1 line. European natural-gas prices could go up by as much as 60 percent this winter, according to Russia's state-owned energy giant.
In the spring of 2022, Dutch wholesale natural-gas prices went up to a record high of nearly 335 euros. Since then, prices have fallen back to about 200 euros per megawatt hour, still a huge jump from the start of the year.
Energy-related problems in Norway, France, Germany, and Russia are making things worse. "Over the last few weeks, you're starting to wonder how bad it's going to get," Ronningen said.
Europe's energy supply crunch appears to be caused by four countries.