Gas prices have reached their highest level in over a year. At the beginning of last year, the price on the TTF international trading exchange in Amsterdam was 30 euros per megawatt-hour, but it is now around 50 euros.
Factors contributing to the price increase include a reduction in Russian gas supplies, tight liquefied natural gas (LNG) markets, and weather conditions. Recent gray winter weather with little wind reduced wind and solar energy production, increasing the demand for gas to produce electricity, thus driving up prices.
Source: NOS