The overall price decline for the day was more than 11% against the backdrop of relatively warm weather in Europe.
The price of natural gas in Europe fell below $650 per 1,000 cubic meters. m for the first time in almost a year and a half – since the beginning of September 2021. This was confirmed by exchange trading on Monday, 16 January.
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Thus, the price of February futures at the TTF hub in the Netherlands dropped to $645 per 1,000 cubic meters. m, or 57.635 euros per MWh (based on the current euro/dollar exchange rate, ICE prices are presented in euros per MWh). The total price reduction per day is more than 11%.
Gas quotes are falling against the backdrop of relatively warm weather in Europe. The average share of wind generation in EU electricity generation has remained very high since the beginning of the month, exceeding 26%. And on January 15, he even reached a record for the entire observation time – 35.4%.
In addition, gas reserves in the EU’s underground storage facilities are at historic highs for this time of year. UGS facilities are 81.7% full (19% pp higher than the average for this date in the past five years), they contain 88.47 billion cubic meters. m of gas.
Earlier it was reported that the head of the ruling regime of Russia, Vladimir Putin, was left without one of the main “trump cards” due to the warm winter in Europe. He lost his supposed leverage in the war against Ukraine.
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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.