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The price of gas soars by 25% on European markets in the face of accelerating demand – franceinfo

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In France, this increase in gas prices will not apply until next spring.

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A historic record. The price of natural gas soared to reach a new record on the European markets on Wednesday 6 October. The reason ? Strong demand as winter approaches, particularly in Asia, but also constrained supply and depressed global stocks. In France, as Jean Castex announced last Thursday, this increase in gas prices will not apply until next spring.

The European benchmark price, the Dutch Title Transfer Facility (TTF), climbed 16.36% to 135 euros per megawatt hour (MWh) by mid-morning. The price of British gas for delivery in November jumped 18.15%. Both markets temporarily posted gains above 25% and reached 162.12 euros and 407.82 pence respectively shortly before 8:30 am, a record.

“The current surge in energy prices in Europe is truly unique”, reacted analysts at Société Générale. “Never before have energy prices risen so high and so quickly”.

Asked by AFP, Commerzbank analyst Carsten Fritsch sees this very sharp acceleration in prices as a “movement of panic and fear” facing low stocks as winter approaches in the northern hemisphere.

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