Gas prices in Europe have reached their highest level in the past year due to increased demand from low temperatures and the removal of the price cap in the EU. On the Dutch TTF exchange, the gas price rose to 53.9 euros per megawatt-hour, the highest since October 2023. Since mid-September, prices have increased by 50 percent. The European Commission had previously imposed a price cap to control the rise, but that cap has expired. The Italian energy minister is proposing the reintroduction of lower prices.
Gas prices in Europe hit a yearly high due to cold weather.
