Free Trial

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

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.