Plugged In: the energy news podcast Another Power Squeeze?
Mar 26, 2026
Priyanka Shinde, Nordic market expert at Montel, explains Nordic bidding zones and hydro pressure. Fintan Devenney, GB and Irish market specialist, digs into batteries, market reform and political risks. Jean-Paul Harreman, Director of Analytics, covers liquidity, margins and spike drivers. They discuss regional vulnerability, battery revenue boosts, market design strains and where Europe is most exposed right now.
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Europe More Resilient But Still Gas Dependent
- Europe is more resilient than in 2022 but remains deeply dependent on gas for many hours of the day.
- Julia Demirdag notes Germany closed its last nuclear plants in 2023 and relies on gas when wind and solar are low, keeping prices elevated.
Geopolitics Created A New Gas Chokepoint Risk
- The Iran war introduces a chokepoint risk unlike 2022 because the Strait of Hormuz disrupts where gas physically flows, not just its price.
- Jean‑Paul Harreman emphasises volatility now stems from geopolitical press conferences and route uncertainty, not just supply scarcity.
Nordic Hydro Deficit Is Improving But Persists
- Nordic hydro is improving but remains in deficit compared to normal seasonal levels, reducing but not removing vulnerability.
- Priyanka Shinde reports the hydro balance moved from ~-26 TWh to ~-16 TWh including a 14‑day forecast.