The gas price is falling but remains volatile.
(Photo: dpa)
Dusseldorf The gas price has been rising almost continuously for almost a year. In the past twelve months, the cost of the fossil raw material has risen by more than 1000 percent. At the peak of the price upward spiral two and a half weeks ago, a megawatt hour (MWh) of natural gas cost 346 euros on the Dutch TTF exchange. Since then, the price has fallen noticeably for the first time in a year.
Although the price has risen again slightly since Tuesday, a megawatt hour still cost just under 200 euros on Wednesday afternoon.
“What we are seeing is a bit of a normalization,” says gas expert Andreas Schröder from the market research company Icis. The increase in recent months could be partly explained by the reduced supply from Russia, “but not to the same extent”. The market was in a panic, which catapulted prices to unprecedented heights. However, various factors are now calming the gas market.
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