- It is reported that the region is experiencing rather mild weather, and the average percentage of wind power in electricity generation has greatly increased
According to TASS, Russia's state-owned news agency article published on October 18, 2022, the price of gas in Europe fell below $1,200 per 1,000 cubic meters for the first time since mid-June, according to London’s ICE.
The November futures price at the TTF hub in the Netherlands fell to $1,175 per 1,000 cubic meters or 115.56 euro per MWh (based on the current euro/dollar exchange rate, ICE prices are presented in euro per MWh).
The EU gas reserves are getting close to their limit, the region is experiencing rather mild weather, and the average percentage of wind power in electricity generation has greatly increased, all of which are contributing factors to the price drop.
