European gas price crosses €100 for first time since 2022 crisis
Briefing by News4U · First published
Europe’s benchmark TTF gas contract traded at €100.37 per megawatt-hour on Wednesday, above €100 for the first time since December 2022, hours after the EU energy chief warned of another energy crisis.
Europe’s front-month Dutch TTF natural gas contract broke above €100 per megawatt-hour on Wednesday afternoon, Euronews reported, a level last seen in December 2022. The benchmark traded at €100.37 per megawatt-hour at 16:00 CET, up over 4% on the day. [1]
The move came hours after EU Energy Commissioner Dan Jørgensen said that due to geopolitical turbulence Europe faces another energy crisis and a difficult winter for citizens and the economy, with fuel bills in the EU “skyrocketing”. [1]
EU gas storage stood at 75% on 21 October according to ACER, well short of the bloc’s usual target of 90% by 1 November. Euronews linked tight supply to LNG disruption and slow storage refilling. [1]
Sources
- European gas price crosses €100 for first time since 2022 as EU warns of new crisis
Euronews World · · Full text