Winter is here and Europe doesn't have enough gas

Gas prices are still almost four times higher than normal for this time of year sending electricity and European emission permits surging

Europe is set to get its first cold spell of the winter season, putting the continent’s already scant energy supplies under pressure.

Temperatures are set to drop starting this week, with parts of Italy forecast to experience weather as much as 2 degrees Celsius below normal. Southern France, Spain and Germany are also forecast to be colder-than-usual, according to The Weather Company. Centrica, the UK’s top energy supplier, warned its 9 million customers to prepare for an icy blast that could last as long as six weeks.