Relatively warm weather has settled in Europe and the share of wind generation in electricity generation has increased significantly.
The price of natural gas in Europe fell below $1,400 per 1,000 cubic meters. m for the first time since the end of June. This was confirmed by the London Stock Exchange ICE data on the morning of Monday, October 17th.
At the start of trading, the price of November futures at the TTF hub in the Netherlands fell to $1,343 per 1,000 cubic meters. m, or €133.25 per MWh (based on the current EUR/USD exchange rate, ICE prices are shown in EUR per MWh).
The total reduction in the cost of gas since the beginning has exceeded 6%.
Gas is becoming cheaper as gas reserves in EU countries approach their maximum, relatively warm weather in the European region and a significant increase in the average share of wind generation in electricity generation.
Recall that in early October, gas prices in Europe fell below $1,000. This happened against the backdrop of Gazprom’s data on a 40% drop in exports this year.
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Source: korrespondent
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