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Gas prices 2023. Price drops on stock exchanges – PGNiG about the price list

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Gas at the Dutch TTF hub is cheaper by more than 12 percent on Monday. The valuation of contracts with delivery in the coming months is already below EUR 60 per megawatt hour (MWh). That’s the least in 16 months.

Gas with delivery in February fell by more than 14% to EUR 55.5 per MWh. Contract prices for March fell by almost 14% to EUR 56 per MWh. For contracts for the next five months, the declines exceeded 13%, and prices are at the level of EUR 57-58 per MWh.

The last time such low prices on TTF were recorded at the beginning of December 2021.

In day Russia’s attack on UkraineOn February 24, 2022, gas prices on the TTF exceeded EUR 128 per MWh. At its peak, in August 2022, gas prices reached EUR 350 per MWh.

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Gas prices are falling – the reasons

Raw material prices have been falling for several months. Analysts of the Dutch daily “Financieele Dagblad” estimate that this is mainly a consequence of the warm winter and the high filling of gas storage facilities. They also emphasize that gas reserves in China are at a high level, which means that ships with liquefied natural gas are heading mainly to Europe.

Commentators believe the extra LNG shipments, as well as the relatively warm weather, give cause for “cautious optimism” that Europe will survive the winter without extreme price spikes.

The daily “Trouw” reminds that despite the decline, the price of gas is still extremely high, because in previous years it fluctuated around 20 euros per megawatt hour.

Main photo source: Shutterstock

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