TTF gas futures for the FrontMonth in the ICE market continued the downward trend they have been maintaining since mid-October. The average value registered during January was €29.91/MWh. According to data analyzed at AleaSoft Energy Forecasting, compared to the average FrontMonth futures traded in December 2023, which was €35.97/MWh, the January average decreased by 17%. When compared to the FrontMonth futures traded in January 2023, when the average price was €63.92/MWh, there was a 53% drop.
In January, high European reserve levels and abundant supplies of liquefied natural gas led to lower TTF gas futures prices. Temperature evolution also influenced prices in January.
The increase in demand due to the low temperatures, which affected Europe in the first weeks of the month, and the effects of these on the supply of liquefied natural gas from the United States exerted an upward influence on prices, limiting their fall. Even so, on January 23, the settlement price was €27.23/MWh, the lowest since the beginning of August 2023.
Powered by
