The gas price at the European hubs gradually decreased during the first two months in 2019. Thus, natural gas price fell by about 4 euros at Austrian CEGH, Dutch TTF, German NCG and GPL from January 20 to February 12. After such a decline the price was more stable until the end of February: fluctuations in spot prices at hubs occurred within 1 euro. The low range of price fluctuations was caused, first of all, by warm weather with no major temperature changes.
It should be noted, that the gas prices situation at European hubs was similar last year – prices depending on the hub were in the range of 17.5 – 19.8 euros/MWh, however, a sharp change in weather conditions in early March raised the price to the highest one in 2018 (about 70 euros/MWh).
However, this year the preparation of EU countries is at a better level, because of the fact that underground gas storage facilities are filled by 42.4% at the time of the last day of winter (compared to 36% last year).