European gas rises over 10% amid cold weather
The price of European gas increased on Friday as much of the continent experiences a cold spell in an otherwise mild winter. However, prices remain drastically lower than in 2022, with the Dutch TTF benchmark at lows unseen since December 2021. Meanwhile, the head of the Italian energy distributor Enel Francesco Starace warned that filling the gas storage for next winter could result in "incredible volatility of gas."
Dutch TTF natural gas futures for delivery in February rose by 10.34% at 4:46 pm CET, selling for €66.99 per megawatt hour, while UK futures for February delivery improved by 11.38% to 148.020 pence per therm at 4:48 pm CET.