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TTF Extends Decline Ahead of EU Meeting on Friday

NATURAL GAS

TTF extends decline as discussions continue regarding possible EU measures to control surging energy prices.

  • Drafts proposals have suggested an electricity price cap of 200€/MWh on non-gas generated electricity such as wind farms, nuclear and coal plants.
  • Measures could include a mandatory target of reducing electricity consumption by 5% during peak hours.
  • An emergency meeting of EU energy ministers is taking place on Sep 9 to discuss the energy crisis and possible measures to reduce surging prices.
  • Win22 TTF is falling faster than next summer and beyond amid market concerns for the longer term impact of depleted storage in the spring and low supplies.
    • TTF OCT 22 down -13.5% at 207.5€/MWh
    • TTF WIN 22 down -12.7% at 212€/MWh
    • TTF SUM 23 down -8.2% at 188.1€/MWh
    • TTF WIN 23 down -5.8% at 177.1€/MWh

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