The temperature this week in most EU countries remains above average climatic indicators.
The price of natural gas in Europe fell again below $900 per 1,000 cubic meters. m. This is confirmed by the London Stock Exchange ICE data on Tuesday, December 27th.
The price of January futures at the TTF hub in the Netherlands fell to $892 per 1,000 cubic meters. m, or 81 euros per MWh (based on the current euro/dollar exchange rate, ICE prices are presented in euros per MWh). The total price drop since the beginning of the day is more than 2%.
Last Friday, December 23, gas prices also dropped below $900. This happened for the first time since June 13th.
Gas prices are falling amid hot weather in Europe. Temperatures this week in most EU countries remain above average climatic indicators, which led to a decrease in the removal of gas from storage facilities and an increase in injection into them to record of levels.
In addition, wind generation’s share of EU electricity generation has been stable for the week at or above 20%. And on Sunday, December 25, it completely exceeded 31%, which was the second highest figure during the observation period.
Today, UGSFs in Europe are 83.1% full (11.55% higher than the average for this date in the last five years), they contain 89.94 billion cubic meters. m of gas. The number of EU countries with net extraction of gas from storage facilities has decreased dramatically.
It will be recalled that on December 19, EU countries reached an agreement on setting a gas price limit of 180 euros per MWh, or approximately 1,850 euros per thousand cubic meters. The Kremlin called this decision “unacceptable.”
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.