Wholesale gas prices in the Netherlands and the UK fell slightly in early Friday trading, mainly affected by stable supply and weak demand. The Dutch TTF benchmark recently fell 0.17 euros to 35.30 euros/megawatt-hour, and the recent contract fell 0.20 euros to 34.45 euros/megawatt-hour. Recently, the UK contract fell 1.50 pence to 82.70 pence per sam. Since late June, TTF prices have remained fluctuating in the 32-35 euro range, and the supply of Norwegian pipeline gas and liquefied natural gas has remained stable. According to meteorological data, Europe and the UK will experience heatwaves in the next few days, and the average temperature is expected to remain above normal for the next two weeks. Wind power generation is expected to be below normal starting Sunday and continuing until at least July 23. The head of European gas research at LSEG stated, “The increase in demand for refrigeration due to rising temperatures in the Asian region is putting some upward pressure on prices. The unbid for the German Rehden gas storage depot auction raised concerns about the progress of the gas storage. Energy Aspects analysts said that the main upward risk in the next few weeks comes from refrigeration demand, and the temperature in early July was already above the year-round average. If the heatwave continues until August, the TTF contract for August may rise by another 2.50-3.00 euros/megawatt-hour.” ⑾ The European carbon market benchmark contract fell 1.02 euros to 69.72 euros/ton.

Wholesale gas prices in the Netherlands and the UK fell slightly in early Friday trading, mainly affected by stable supply and weak demand. The Dutch TTF benchmark recently fell 0.17 euros to 35.30 euros/megawatt-hour, and the recent contract fell 0.20 euros to 34.45 euros/megawatt-hour. Recently, the UK contract fell 1.50 pence to 82.70 pence per sam. Since late June, TTF prices have remained fluctuating in the 32-35 euro range, and the supply of Norwegian pipeline gas and liquefied natural gas has remained stable. According to meteorological data, Europe and the UK will experience heatwaves in the next few days, and the average temperature is expected to remain above normal for the next two weeks. Wind power generation is expected to be below normal starting Sunday and continuing until at least July 23. The head of European gas research at LSEG stated, “The increase in demand for refrigeration due to rising temperatures in the Asian region is putting some upward pressure on prices. The unbid for the German Rehden gas storage depot auction raised concerns about the progress of the gas storage. Energy Aspects analysts said that the main upward risk in the next few weeks comes from refrigeration demand, and the temperature in early July was already above the year-round average. If the heatwave continues until August, the TTF contract for August may rise by another 2.50-3.00 euros/megawatt-hour.” ⑾ The European carbon market benchmark contract fell 1.02 euros to 69.72 euros/ton.