Gas: prices rising in Amsterdam, Middle Eastern crisis and German stocks weigh
Quick Look
- The price of gas at the Amsterdam TTF rises by 2.12% to 76.35 euros per MWh, marking an annual +38%.
- The uncertainty over the crisis in the Middle East and Germany's delay in filling winter storage are weighing on the situation.
AI-generated summary
Why It Matters
Thermoelectric represents over 51% of national electricity production in Italy. Germany holds over 21% of Europe's storage capacity.
The price of gas continues to rise in the absence of concrete news on the crisis in the Middle East. Futures contracts for the month of November show an increase of 2.12% to 76.35 euros per MWh on the TTF exchange in Amsterdam, with a growth of 38% since the beginning of the year.
A value which, indirectly, is reflected in gas and electricity bills, given that thermoelectric power accounts for over 51% of national electricity production in Italy. However, Germany's delay in filling its inventories in view of the winter is also weighing on prices.
With a potential capacity of 247.47TWh, equal to over 21% of the 1,132.51 TWh of European capacity, the country's reserves are currently stuck at 58.2% at 144 TWh. Europe is at 71.96% at 815 TWh while Italy is the European country with the largest inventories, having filled 87.39% of the 203.42 TWh of available capacity.
Open Questions
- When will German reserves be filled?
- What will be the final impact on winter bills?
