Energy prices across Europe have climbed sharply, intensifying pressure on both
Energy prices across Europe have climbed sharply, intensifying pressure on both consumers and businesses, while Greece is emerging as one of the markets most exposed to the surge. Extreme weather conditions, limited energy reserves and structural weaknesses in Europe’s energy system are driving up the cost of electricity and natural gas, undermining competitiveness and raising living expenses.
Concerns over energy security are growing as natural gas storage levels across the European Union fall to worrying levels. In countries that operate gas storage facilities, reserves are well below seasonal norms.
Gas prices surge as speculation accelerates
These conditions have fueled sharp price movements in Europe’s gas market, particularly on the Dutch Title Transfer Facility (TTF), the region’s main gas trading hub. Over a period of roughly 10 days, TTF prices jumped by about 32%. On Jan. 21, February contracts rose to €36.60 per megawatt-hour, up from €27.69 on Jan. 8.
According to reporting from Bloomberg, hedge funds and other speculative players moved into long positions, amplifying the rally. The shift followed increased energy demand for heating caused by extreme weather across Europe. Earlier in January, funds had been selling futures to close positions, before reversing course as conditions tightened.
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