{"id":112871,"title":"Gas prices return to levels seen before the energy crisis.","publisher":"Share Talk","author":"sharetalk","published":"2024-02-23T09:44:21+00:00","modified":"2024-02-23T09:44:21+00:00","canonical_url":"https://www.share-talk.com/gas-prices-return-to-levels-seen-before-the-energy-crisis/","markdown_url":"https://www.share-talk.com/gas-prices-return-to-levels-seen-before-the-energy-crisis.md","json_url":"https://www.share-talk.com/gas-prices-return-to-levels-seen-before-the-energy-crisis.json","category":"Blogs","categories":["Blogs","Energy"],"tags":["annual","Bank of England","Bankrupt","bills","BRITISH","Business Secretary","Chancellor","Christine Farnish","Citigroup","Companies","crisis","electricity","ENERGY","FINANCE","finances","gas","GDP","generators","giants","Good Energy","households","increases","Inflation","Jeremy Hunt","Kwasi Kwarteng","Minister","Nadhim Zhawi","National Grid","NATO","OBR","Octopus","Ofgem","Outfox","payouts","Profits","public","rate","Share Talk","SO Energy","suppliers","Tax","taxes","TruEnergy.","UK","Unemployment","Windfall"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/10/oil-friday-6-oct.jpg?fit=1200%2C800&quality=89&ssl=1","format":"news","language":"en-GB","content":"Wholesale gas prices have returned to levels not seen since before the onset of supply constraints by Vladimir Putin, indicating a shift in Europe’s energy crisis situation.\n\nThe Dutch front-month futures, a key indicator in European markets, dropped below €23 per megawatt hour, reaching their lowest since May 2021.\n\nThis decrease in prices is attributed to a relatively mild winter in Europe, resulting in gas storage facilities being approximately 65% full, significantly above the usual levels for this period.\n\nGas prices have plummeted over 90% from their peak following Russia’s invasion of Ukraine, when they soared to over €339 per megawatt hour.\n\nIn the UK, the corresponding contract has seen a similar decline, dropping from 640p per therm in August 2022 to under 57p currently."}