Gas prices fall further in Europe as Amsterdam trading kicks off in 2023

European gas prices fell further at the start of the new year due to the mild winter weather. As a result, gas reserves in Europe are still largely up to standard.

The price of a megawatt hour of gas on the leading stock exchange in Amsterdam fell to 70.30 euros on Monday morning. The last time European gas was at this low price was in February 2022 before the war in Ukraine began. The gas price then rose again later on Monday morning to 73 euros.

Gas prices have roughly halved since early December. The record high of 345 euros was reached last September. That peak hit after Russia stopped deliveries.

The mild weather has reduced gas consumption on the whole. Records were set in the Netherlands at the turn of the new year, with parts of Limburg even seeing an unseasonably warm 17 degrees.

Regional temperatures in Germany exceeded 20 degrees.