Ukraine gas prices plunge: German storage facilities up 88.2%
The price of the still falls gas at the TTF in Amsterdam, going below last year’s levels January 23, eve of the Russian attack on Ukraine. After 28% drop January futures contracts start at Dutch reference hub TTF in the wake of exceptionally mild weather and plentiful supply 80 euros per megawatt-hour to drop shortly after to 76.8 euros/MWhdown 3.8 compared to yesterday’s close.
THE gas prices natural gas in Europe are more than 75% lower than the peaks of almost 350 euros reached in August, as imports LNG recordthe increase of wind generation and fuller-than-normal stocks ease shortage concerns.
The storage facilities in Germany they were 88.2% full on 25 December and the EU average was 83.1%, above the five-year seasonal average. At the same time, the supplies from Russia sent across the Ukraine have been stable and forecasts point to normal to above average temperatures through early January.
Gas price plummeting, but bills will have to wait
But if on the one hand the price of the gas it collapses, on the other hand the increases in the bill won’t leave us, at least for a while longer. The Milleproroghe decree, expected in the Official Gazette, in fact brings the stop to unilateral changes to contracts to June 2023. But it unlocks the raises that come with renewing an expired contract.
As he explains Republic“after four months of uncertainty and legal battles, the government intervened to clarify the law against high bills. Approved by the Draghi executive with the aid decree bisthe law provides that until March 2023 operators cannot revise contracts upwards still in progress: the so-called “unilateral variations of the contract”, the ban on which is extended until June 2023″.
But, the newspaper points out again, “the wave of price hikes and in any case arrived for all customers who had expiring contracts: in the free market most of the agreements last 12 or 24 months and at the time of renewal the managers offer much more expensive rates, because in the meantime the market has changed”.
Gas prices plummet, but utility bills rise
The 2023 therefore it looks quite complicated. According to the new estimates by Nomisma Energia, for 2023 energy prices will drop by 25%, about 16 euro cents less per kWh which should bring the tariffs back towards 50 cents per kWh, but watch out: we will have to wait a little longer for gas a little’. Estimated new flare is 20% higher. On this front, therefore, one is on the way new sting for users considering, reads the note released by Nomisma, that they are concentrated in the winter months 80% of consumption of gas for the whole year.
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