Gas prices in Europe have dropped to summer 2021 levels for the first time
20.05.2023Natural gas prices in Europe have fallen to the level of summer 2021 for the first time in recent years. This is reported by AFP, writes "European Truth", transmits epravda.com.ua.
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Around 16 p.m. on May 18, the Dutch TTF futures contract, considered the European benchmark, was trading at €29,9 per megawatt-hour before rising to €30.
The agency notes that there have been no such prices since June 2021.
In the last two months, gas prices have returned to the level at which they were before the beginning of the full-scale war of the Russian Federation against Ukraine — about 40 dollars per megawatt-hour.
For comparison, in August 2022, when the heating season was approaching and there were still serious fears about how Europe would get through the winter, gas was trading at 300 euros per megawatt hour.
According to the media, Europe has slowed down the purchase of gas to fill the storages, expecting a further decrease in prices.
Earlier, Brussels confirmed the political agreement of EU member states to extend the voluntary reduction of gas consumption by 15% for another year.
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