---
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"
date: 2024-02-23
canonical: "https://www.share-talk.com/gas-prices-return-to-levels-seen-before-the-energy-crisis/"
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"]
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"
---

# Gas prices return to levels seen before the energy crisis.

**Published:** February 23, 2024
**Author:** sharetalk
**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)

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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.

The Dutch front-month futures, a key indicator in European markets, dropped below €23 per megawatt hour, reaching their lowest since May 2021.

This 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.

Gas prices have plummeted over 90% from their peak following Russia’s invasion of Ukraine, when they soared to over €339 per megawatt hour.

In the UK, the corresponding contract has seen a similar decline, dropping from 640p per therm in August 2022 to under 57p currently.

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