2023-05-11 17:18:53
The price of gas has fallen further in recent days. Traders now pay less than 35 euros for a megawatt hour. Gas was last this cheap at the end of 2021.
In the months that followed, gas became outrageously expensive. During the peak of last August, people paid even ten times as much as now. This was because Russia turned off the gas tap to Europe, making gas scarce.
In addition, European countries wanted to fill their stocks quickly last summer and therefore bid once morest each other to make sure they had enough for the cold winter months.
All this led to the energy bill of many households rising by hundreds of euros per month. Many ran into payment problems. But the market price for gas has now fallen and fluctuates around 34.50 euros on Thursday morning.
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Russian gas is increasingly being replaced
In recent times, European countries have increasingly replaced Russian gas with gas from other countries, including Norway. Additional liquefied natural gas (LNG) has also been introduced. As a result, there is more supply and the gas price falls.
Furthermore, European countries decided to no longer bid once morest each other, but to jointly purchase gas to supplement their winter stocks. The first tender was launched on Wednesday. All gas suppliers, except those from Russia, can now make it clear at what price they want to supply the gas to Europe.
Energy bills are also getting lower
The drop in the gas price is also having an increasing impact on our energy bill. Major suppliers such as Eneco, Essent and Vattenfall are once once more offering contracts with rates below the price ceiling. Contract prices may fall further in the near future, as they follow the trend of trade prices with a few months delay.
The drop is more than welcome. Many households still have problems paying the bill. Sector club Energie-Nederland sees that the number of payment arrears remains the same, but that those who have such arrears are seeing it increase further and further. This is partly because some customers have received the annual statement and have to pay extra.
Despite the drop in the gas price, we have not yet returned to the level before the energy crisis. At that time, traders paid less than 20 euros for a megawatt hour. The current prices are therefore still twice as high as a few years ago.
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