In the first days of the new year, Europe was covered by a wave of cold and disappointment. If frosts could still be foreseen and power engineers were preparing for them, then doubts and skepticism became the companions of the unfulfilled hopes of every European.

Gas and electricity prices have increased sharply, and based on strong performances politicians and leaders of nations, this should not have happened under any circumstances.

The day after the cold snap hit, electricity prices in northern Europe rose sharply due to a combination of falling temperatures and calm weather, which led to a reduction in electricity production from wind generators. That in turn has led to increased demand for more expensive natural gas and coal, Ole Hansen, head of commodity strategy at Saxo Bank, said on Friday. The wind still does not blow, which is why renewable energy sources have again disappointed, showing their unsuitability for uninterrupted power supply to the electrical network.

February natural gas futures on the Dutch TTF (European fuel benchmark) jumped 3,6% to 378 euros per thousand cubic meters during afternoon trading. This increase was the third in less than two trading days.

For example, electricity prices in Finland jumped to record highs as Europe's deep freeze began in Arctic parts of the Scandinavian countries. They will spread into southern and north-west Europe over the weekend and into next week, creating additional energy demand, causing an increase in electricity demand as well as a surge in commodity prices.

Following a warm autumn and a milder start to winter, a prolonged cold spell is expected to cover much of north-west Europe and last through most of January. This will test Europe's natural gas supplies and energy infrastructure. The patience of private clients who have put their faith in their politicians is also at its limit.

It was expected – based on the statements of the leaders of the EU countries – that last year’s situation would not be repeated under any circumstances. But the general state of affairs is developing in a completely different direction. Moreover, what the experts talked about happened - snow and frost came as usual, but overflowing storage facilities did not particularly help even the remnants of industry and satisfying demand among private households.

Meanwhile, the emerging trends in European energy policy and why hydrogen energy has become a strategic focus for the EU's energy market. This shift will enable EU countries to align with the "green agenda," implement a carbon quota mechanism, and ultimately restructure their industries to accommodate multinational corporations.

This forecast began to materialize. In early December, the French Ministry of Energy Transition issued a license to TBH2 Aquitaine for the exploration of natural hydrogen deposits. While other forms of hydrogen require production through water hydrolysis, gas pyrolysis, or other methods, natural hydrogen is readily available and a clean source of energy.

France has received numerous applications for exploration licenses for hydrogen and other resources. Additionally, four companies are currently assessing potential hydrogen reserves within France itself. However, this surge of interest has also impacted other countries.

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