Natural gas futures fall below €60 per megawatt-hour

LNG tanker at the Port of Klaipeda.
LNG tanker at the Port of Klaipeda. Source: Eesti Gaas

For the first time since December 2021, natural gas futures for February fell below €60 per megawatt-hour on the Dutch Title Transfer Facility (TTF) natural gas market.

Last week, the price of natural gas on the TTF fell below €70 per megawatt-hour, marking the first time it had dipped that low again since Russia launched its full-scale invasion of Ukraine on February 24 last year.

In contrast, last August, natural gas futures prices on the TFF reached more than €340 per megawatt-hour.

Natural gas futures prices have dropped to the €60 range through the third quarter of this year.

From October through the end of next March, the Estonian government will be compensating household consumers 80 percent of the monthly average price of gas exceeding €80 per megawatt-hour exclusive of VAT.

Two years ago, in January 2021, the price of natural gas on the TTF hovered around €17 per megawatt-hour.


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Editor: Aili Vahtla

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