Natural gas price on TTF exchange reaches highest level since December 2022

The natural gas price on the TTF exchange rose by 9.1% last week, reaching 87.5 euros per megawatt-hour (MWh). It is the highest price since December 2022. TTF (Title Transfer Facility) is the Dutch gas trading hub, whose price is used in Europe as a reference for wholesale gas trading.

The figures come from a review of wholesale energy price trends published by the Public Utilities Commission (SPRK). SPRK is the Latvian state institution that regulates public services, including the energy sector.

What the data show

According to the information compiled by SPRK, the price jumped by just over nine percent within a week. The review uses December 2022 as the point of comparison, the last time the gas price was as high as it is now.

Wholesale price movements generally affect what traders and companies pay when buying gas. The source gives no information on how this price increase might affect end-consumer bills in Latvia, so no specific forecasts can be made on that.

The SPRK review is a regular overview in which the regulator tracks changes in wholesale energy prices. This time the rise in gas prices is one of the most notable indicators, as such a high level was last recorded almost four years ago.