Since 15 November, wholesale gas prices have reached levels not seen for a year, exceeding €48 per megawatt-hour on the main Dutch futures market (TTF) on 21 November.
The factors observed are a cold winter combined with declining wind energy generation – which reduces renewable supply, compelling the use of gas-fired power stations – and persistent geopolitical tensions linked to the war in Ukraine.
Fall in gas storage levels. These conditions have also led to a fall in gas storage...