Germany has managed to fill its gas reserves to 91.32% of capacity, allaying fears it could run out this winter after Russian gas flows fell sharply following European sanctions over the invasion of Ukraine - but it has come at a price.
BMW consumes around 3,500 gigawatt hours of energy annually in Germany and Austria, three-quarters of which comes from natural gas.CEO Oliver Zipse said in August it could replace around 500 GWh of electricity from gas-powered combined heat and power plants by buying electricity from elsewhere but that doing so would significantly bump up its costs.
Still, it has not yet moved production out of Europe or changed future investment plans as a result of the energy crisis. Chief executive Dominik von Achten said the company was shifting production at plants to times when power prices were lower, such as weekends.
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