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TTF Lower As EU Agree Joint Purchases but Not Price Cap

NATURAL GAS

TTF holding onto losses from earlier in the day as EU members make progress by agreeing two packages of emergency measures on joint gas purchases and solidarity at a meeting today. One is regulation to ensure affordable gas supply in Europe and the other is to accelerate renewables development.

  • Agreement on a gas price cap mechanism was not reached but hopes remain of finding a compromise in the next few weeks before the EU Summit in Brussels on Dec 15-16.
  • Latest weather forecasts still show warm weather in Europe over the coming week giving way to at or below normal temperatures at the end of the month and into December.
    • TTF DEC 22 down -4.4% at 123.86€/MWh
    • TTF SUM 23 down -3.1% at 130.63€/MWh
    • TTF WIN 23 down -3.2% at 128.93€/MWh
    • TTF SUM 24 down -3.2% at 90.5€/MWh
    • TTF WIN 24 down -3.6% at 86.8€/MWh
Energy BulletsCommodities
Energy BulletsCommodities

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