CNBC: Gas price surges to a record high in Europe on supply concerns
* November contracts at the Dutch TTF hub — a European benchmark for natural gas — were trading at around 118 euros per megawatt hour (MWH) just after midday in London.
* The front-month contract has risen almost 400% since the start of the year.
* Several British energy suppliers have collapsed amid the gas price crisis. September alone reportedly saw nine companies cease trading.
* In recent weeks, governments in Spain, Italy, Greece, and France have taken drastic actions to minimize the impact of wholesale price rises on consumers.
LONDON — Natural gas contracts hit new highs in Europe on Tuesday, as soaring prices continue to put pressure on the region’s energy sector ahead of the winter period. November contracts at the Dutch TTF hub — a European benchmark for natural gas — were trading at around 118 euros per megawatt hour (MWH) just after midday in London.
The front-month contract was up almost 19% on the day, setting a new record high, and has risen almost 400% since the start of the year.
In the U.K. — which has been hit particularly hard by the surging cost of wholesale natural gas — prices for November rose 14% to £2.79 per therm on Tuesday.
Meanwhile, British wholesale gas for immediate delivery rose by 23% to £2.50 per therm. Read more ....
WNU Editor: Ouch!!!! .... Gas Prices In Europe Are Now The Equivalent Of $205 Oil (OilPrice.com).
Update: It is getting worse, and heaven help all of us if we have a very cold winter .... Gas Futures in Europe Hit New All-Time High of $1,450 Per 1,000 Cubic Meters (Sputnik).
More News On Europe's Energy Crisis
Europe’s Gas and Power Surge to Records as Supply Concerns Flare -- Bloomberg
Oil Prices Charge Higher As Bullish Sentiment Builds -- OilPrice.com
European gas prices push higher as winter season approaches -- RT
Europe's energy crisis: EU divided over response to soaring, 'unbearable' prices -- Euronews
EU countries warned to ‘not overreact’ to energy price surge -- Politico
Europe's energy crisis: Five charts to explain why your bills might go up this winter -- Euronews
