EFEMadrid
12/23/2022 7:34 p.m.
Natural Gas Storage Facility
According to information from the Bloomberg platform, fuel closed as we speak at 83 euros per megawatt hour (MWh), 8.9% much less. To discover a lower cost than as we speak, return to mid-June
The value of TTF pure fuel for supply subsequent month has fallen beneath 90 euros this Friday for the primary time in virtually two months and closes every week marked by the choice of the European Commission to cap fuel with a drop of 29, 36%.
According to information from the Bloomberg platform, fuel closed as we speak at 83 euros per megawatt hour (MWh), 8.9% lower than the day earlier than and the primary time it has misplaced 90 euros since final October 31.
To discover a lower cost than as we speak, it’s important to return to the center of June.
After months of negotiations, the EU agreed on Monday to set a cap of 180 euros on contracts linked to the Amsterdam TTF index with a value distinction of at the very least 35 euros above the typical value of liquefied pure fuel within the markets. worldwide for 3 consecutive days.
In a report this week, the Swiss funding financial institution Julius Baer indicated that the probabilities of the mechanism being activated are low and identified that the chosen formulation was not very efficient in avoiding the multiplier impact that fuel has on the worth. of electrical energy.
However, he reiterated what was mentioned in different earlier studies: “The vitality provide dangers are minimal and costs ought to proceed to fall sooner or later” because of the availability of uncooked materials from Asia to offset the cuts in Russia.
Gas tends to fall through the sizzling months on account of decrease demand, however this summer time it has reached historic heights as European nations had been shopping for to face the winter with their tanks full and cut back their dependence on Russia.
The value fell in September and October on account of decrease demand as soon as the tanks had been full because of the excessive temperatures initially of autumn, however in November it picked up once more and 66% costlier.