Dutch wholesale gas price plummets to two-year low

Analysts say mild temperatures and ample supply have pushed Dutch wholesale gas price to a two-year low

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Friday morning saw the Dutch benchmark wholesale gas price reaching its lowest point in a span of two years.

According to Refinitiv Eikon data, the Dutch front-month contract dropped by €0.35 (£0.30) to €25.15 (£21.8) per megawatt hour (MWh).

It had briefly reached €24.56 (£21.3)/MWh in early trading, marking its lowest level since the third week of May 2021.

Meanwhile, the Dutch July contract witnessed a decrease of €1.20 (£1.04), settling at €25.60 (£22.2)/MWh.

The September price also dropped by €0.90 (£0.78), reaching €30.45 (£26.4)/MWh.

Experts note that wholesale gas price declines are influenced by multiple factors, such as robust storage levels, a slight increase in gas pipeline supplies from Norway and favourable temperatures.

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