The price of European natural gas continues to fall. For the first time in a good year and a half, the price for the forward-looking futures contract TTF for delivery in one month fell below the mark of 50 euros per megawatt hour. The low of EUR 49.50 was marked in the morning, which is the lowest level since August 2021.
Natural gas prices have risen sharply over the past year as a result of Russia’s war against Ukraine. At the peak, prices of more than 300 euros were paid, after natural gas had cost around 20 euros for a long time. The once high dependence on Russian gas had led to an energy crisis.
The current price decline, which has been taking place since last summer, is mainly due to well-stocked natural gas storage facilities, high imports of liquid gas and lower demand due to the weather. In addition, there are savings, especially in industry, which produces less for cost reasons.
