On Wednesday, the European gas price dropped below the mark of €100 per Megawatt-hour (MWh) due to the warmer weather in Europe and the announced EU agreement on a €180 price cap from mid-February, APA reports citing TheBrusselsTimes.
On the main European gas exchange, the TTF, the gas price fell below €100/MWh shortly after opening. The lowest level was €96,324 around 08:00. Just before 10:00, however, the price of gas briefly went above €100, only to drop again. At noon, the price was €99.25/MWh.
It has been since June that the price of natural gas dipped below the €100 mark. In August, an absolute record was recorded when the price peaked above €340/MWh.