The Dutch TTF (Title Transfer Facility) natural gas futures price forecast for November fell below €100 per megawatt-hour (MWh) on Monday, for the first time since June.
According to the TTF, the market price of gas as of midday on Monday is €97 per MWh.
This represents a major reduction from the November futures price forecast on August 26, which was almost €350 per MWh.
Since the end of 2021, the price of gas been hovering around €100 per MWh, with the November price reaching €126 per MWh last December 26. Since then, the lowest price was €62 per MWh at the end of January, with the price also falling to €88 per MWh in May, but only for a single day.
During this heating season, which lasts from October until the end of next March, the Estonian government is set to provide compensation to household consumers to help cover gas bills. 80 percent of the cost of gas bills above the rate of €80 per MWh will be subsidized.
Editor: Michael Cole