Gas prices are rising rapidly: Highly reached for over a year!

Gas prices are rising rapidly: Highly reached for over a year!

Österreich, Europa - The price for European natural gas has a remarkable increase on Thursday, February 6, 2025 and has reached the highest level of standing stand at 55.06 euros per megawatt hour (MWh). This price increase, which has been progressing steadily since mid -December, is currently more than 40 percent above the value of a few weeks ago. Market observers see the current weather forecasts as a driving factor, since the cool temperatures in northwestern Europe will significantly increase heating requirements. The low temperatures also affect wind arm conditions, which further fueled gas consumption. The result? The gas stores empty faster than in the previous year.

falling gas reserves in Austria and Germany

The situation is alarming: the gas storage in Austria is now only 61 percent filled, while it was 81 percent in the previous year. In Germany too, the gas stores are far lower than in the previous year, with currently 52 percent. This rapid acceptance is particularly worrying in winter and warns consumers of rising heating costs. According to Kleine Zeitung , the resulting uncertainty about the gas supply also causes fears that are increased by the customs policy of the new US government. A possible trade conflict between the USA and China could also have significant consequences for the global economy and thus also for energy prices.