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TTF Increases As EU Discuss Floating Price Mechanism on Gas Imports

NATURAL GAS

TTF regains ground as the EU looks to propose a temporary floating price mechanism on gas imports. The EU is trying to find a way to help limit price surges and excessive volatility and price swings.

  • Concerns are that a cap on the price of gas imports could make EU less competitive and limit LNG imports. A gas cap could also support demand at a time when countries are trying to reduce the chance of supply disruptions by cutting consumption.
  • EU energy ministers are scheduled to meet on 24 November to finalise a deal on the proposal.
  • Strong LNG supplies and warm weather are limiting the price upside but the market is watching closely for the impact when the first cold spell of the winter arrives.
    • TTF DEC 22 up 5.6% at 115.84€/MWh
    • TTF SUM 23 up 2.7% at 124.16€/MWh
    • TTF WIN 23 up 2.4% at 123€/MWh
    • TTF SUM 24 up 2% at 93€/MWh
Energy BulletsCommodities
Energy BulletsCommodities

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