Gas prices in Europe fall over 4%

Exchange gas prices in Europe opened trading on December 23 with a decrease of about 5% compared to December 22 settlement price,Qazet.az reports referring to the data of the London ICE Exchange.

January futures on the TTF index (the largest hub in Europe, located in the Netherlands) opened trading in the red - near the level of $960 per 1,000 cubic meters (-4.9%). Further, they amounted to almost $966 per 1,000 cubic meters (-4.2%). The dynamics of quotations is based on the settlement price of the previous trading day - $1,007.7 per 1,000 cubic meters.

Earlier, the EU countries agreed to set the maximum exchange price for gas. It will amount to 180 euros per MWh (almost $2,000 per 1,000 cubic meters at the current exchange rate) and will come into effect on February 15. The measure is aimed at protecting European households and businesses from gas price hikes.