European Gas Hits €100/MWh for First Time Since 2022
Low inventories and Middle East supply fears pushed the Dutch benchmark above €100 per MWh, raising winter costs for households and industry.
- On Wednesday, Europe's benchmark natural gas contract touched €100 per megawatt-hour, reaching its highest level since December 2022 amid Middle East supply disruptions.
- Escalating Middle East conflict and shipping attacks in the Strait of Hormuz have curtailed liquefied natural gas exports, effectively cutting off supplies from key producers like Qatar.
- EU gas storage sites were 74% full as of October 21, per Gas Infrastructure Europe data, falling well below the five-year average of about 86%.
- European energy chief Dan Jørgensen warned the bloc faces a "new energy crisis," as rising wholesale costs drive consumer tariffs higher, with German customers seeing 55% increases.
- Analysts warn prices could surge further if cold weather boosts demand this winter, though demand reduction measures like lowering thermostats remain Europe's primary controllable lever.
248 Articles
248 Articles
The price of the megawatt hour reached, on Wednesday 28 October, the EUR 100 in the European wholesale markets, a first since the energy crisis of 2022.
The European price for natural gas rose to 100 euros per megawatt hour (MWh) for the first time since 2022 on Wednesday. The most recent forward-looking natural gas forward-looking contract TTF for delivery on the Amsterdam stock exchange was 100.3 euros per MWh in one month. This was 4.12 percent more than the previous day.
The price of natural gas in Europe has crossed the 100 euro mark per megawatt hour this Wednesday, a first since December 2022, due to the supply disruptions related to the conflict in the Middle East....
European gas hits €100/MWh for first time since 2022
Europe's benchmark natural gas contract briefly touched €100 per megawatt hour (MWh) today for the first time since December 2022, as disruptions to Middle East shipping of liquefied natural gas keep supply tight ahead of winter.
The price of gas is soaring again in Europe, driven by tensions in the Middle East. The decline in inventories as winter approaches as well as low wind production For the first time since
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