Economic

Gas price in Europe hits lowest level since start of Ukraine war

Wholesale natural gas prices in Europe fell to their lowest level since the beginning of the Ukraine war on Monday, January 2nd, as price cuts continued as the relatively warm winter preserved stocks, the BBC reports.

According to cited sources, the wholesale price of natural gas in Europe reached 72.75 euros per MWh, the lowest since the beginning of the military invasion of Ukraine. The current price, writes the BBC, would be almost five times lower than in August 2022.

The price of gas fell steadily in December, setting record after record. To a large extent, this price reduction is explained by the warm winter in Europe, which allows the saving of unused gas.

However, compared to previous years, the price of natural gas in Europe is quite high. In 2020, the quotations of the futures contract for the supply of gas on the Dutch hub TTF fell below 20 euros.

Ecaterina Arvintii

Ecaterina Arvintii

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