The price of gas in Europe once again fell below $700 per 1,000 cubic meters, according to London’s ICE, Trend reports citing TASS.
The price of February futures at the TTF hub in the Netherlands fell to $699 per 1,000 cubic meters or 62.57 eurs per MWh (based on the current euro/dollar exchange rate, ICE prices are presented in euro per MWh).
Gas prices are falling against fairly warm weather conditions in Europe. The temperature in the majority of EU countries remains above climatic figures. In addition, the share of wind generation in EU electricity generation continues to be stable above 20%. As of on January 1, it even reached a record-breaking figure for the entire time of observation at 34.7%.