The price of gas in Europe fell to $596 per 1,000 cubic meters. meters
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February futures price on the hub TTF in the Netherlands fell to €53 per 1 MWh ($596 per 1,000 cubic meters). Over the day, the price of gas in Europe decreased by approximately 2.8%, reaching the levels of August 2021.
The last time the February futures price fell below $600 per 1,000 cubic meters. m (up to $599) January 17th. The day before, gas prices in Europe fell by 15.5%.
The decline in energy prices in Europe is associated with high gas reserves in underground storage facilities and favorable weather conditions that contribute to high electricity generation at wind farms. January 25 level of gas withdrawal from storage facilities in the EU has reached maximum since mid-December.
Read more about the situation on the EU energy market in the Kommersant publication “Useful Burrows”.
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