Lowest level in almost two years, but no all-clear
Dhe European energy prices are falling and falling. At EUR 74 per megawatt hour (day ahead), the electricity price is almost back to the pre-crisis level. And that too gas price has reached its lowest level since September 2021 at 25 euros (TTF). Last year it had climbed to record values and was at times more than 330 euros after the federal government forced operators to store gas. In addition, there were infrastructure bottlenecks in north-western Europe, which meant that more gas could not be transported to Germany from Great Britain, France and the Netherlands, among others. In the meantime, the otherwise stable supply suddenly seemed endangered with a view to the coming winter.
In the meantime, the situation has eased considerably. Not only have the prices fallen, the gas storage facilities are also well filled at 73 percent. There are various reasons for this. Last winter was one of the mildest since winter records began, so the Germans didn’t heat that much.
