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NL: Crisis update: Normal temperatures, abnormal gas prices

Despite a weekend of frost, the Netherlands was using less heating than normal. About 15% less, national radio reported yesterday morning. Meanwhile, the frost has dissipated again, and temperatures are at normal levels.

This is not the case for gas prices. The short-term gas price hasn't risen in recent days, although the spot price on the Title Transfer Facility crept up. In this crisis update, we try to outline the energy situation once more.

The TTF gas price for December closed at over 116 Euros per megawatt hour on Monday. Early yesterday morning, the market opened at 118.5 Euros. View the current figures here.

TTF 'Day ahead' price development. Click here to enlarge.

Short-term gas prices are above the 100 Euros per megawatt hour mark, as well as APX electricity prices, which have been above the 200 Euros per megawatt hour mark since this weekend. The 'all hours' price was over 220 euros on Monday.

Recently, in the news are Japan (which, despite negative past experiences, is looking at nuclear power again to become less dependent on Russia for energy, as heard on the Dutch NPO Radio 1) and Norway (which wants to tap a new gas field in the sea to start supplying natural gas by the end of 2026 - read more at the Financieel Dagblad, among others). At NOS, you can also read more about frugal heating behavior by the Dutch this weekend.

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