mining energyGas prices continue to fall. The future of Dutch gas TTF, which determines prices in Europe, is still 174.50 euros per megawatt hour. This is the lowest level since July 25 and is almost half of the record price at the end of August. But will you also notice that drop in your wallet? Mijnenergie.be explains.
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in collaboration with mining energy
19-09-22, 09:39
Last update:
10:27
Bron:
mining energy
Stocks on the rise
Several factors contribute to the drop in prices. Analysts refer to gas storage, which already accounts for 86% of storage capacity. This is significantly higher than the level of storage Europe normally achieves at this time of year. US bank JPMorgan Chase & Co expects storage capacity to still be 34% even with a Russian embargo in late March, while investment bank Goldman Sachs keeps it at 20%. Even in a harsh winter, stock should be sufficient, according to JPMorgan Chase & Co.
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Decreased dependence and demand
Furthermore, measures to reduce dependence on natural gas are not without effect. Goldman Sachs also points out that the steep rise in natural gas prices in short-term markets has fueled the decline in industrial demand. Europe’s intentions to set a price cap also lead to more favorable sentiment in the energy market. Finally, the commissioning of a new LNG terminal at Eemshaven in the Netherlands is also expected to increase supplies. Over the next five years, the terminal will convert LNG (liquefied natural gas) from abroad into gas suitable for use in Europe.
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What is the effect on the consumer’s energy bill?
Energy prices for the consumer are determined monthly. The effects of this drop in prices will therefore only be reflected in the October rates. If the trend continues, prices will fall sharply. Those who have a variable rate contract will also be aware of this price drop in the short term. However, the price remains highly volatile and, even after a possible correction, is still at an all-time high.
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This article was offered to you by our partner Mijnenergie. MijnEnergie.be is an independent comparator of the energy prices of electricity and gas offers.
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