The tour operator FTI, owner of Labranda, has left the south of Gran Canaria out of its promotion for Germans who present energy poverty ratios in the winter of 2022 and 2023. Germany's storage bases, which are equivalent to approximately three months of demand, now they are about to burst. Capacity utilization is just shy of the 95% target well ahead of the government's self-imposed Nov. 1 deadline.
The German company has launched offers for customers in Munich for long-term stays in Morocco and Tunisia in its 'Travel instead of heating' initiative, which is valid for a certain travel period. FTI has reacted in this way to the energy crisis that is looming in winter. German inflation, driven largely by soaring energy prices, stands at 10,9% and the government has pledged to spend billions of euros to help households and businesses pay rising energy bills.
Europe's largest economy built its energy security around abundant and cheap natural gas imports from Russia, a lost bet after the invasion of Ukraine. Moscow has since turned off Germany's taps, forcing a mad scramble to shelter from the elements for the colder temperatures ahead. While their policy blunder has helped disrupt supply and demand curves around the world, driving up prices since July, the good news is that their hoarding may have peaked.
