Oxstones Investment Club™U.K. and Continental European natural gas price trends diverged in June, with a year-on-year comparison showing U.K. gas down 5% while gas on the Continent was up 5%, according to Platts, the global energy, petrochemicals and metals information provider.
Platts’ price assessments show the average cost of day-ahead gas on Continental Europe’s most liquid hub, the Dutch TTF, was Eur23.83 per megawatt hour (/MWh) in June this year compared to Eur22.66/MWh in June 2011.
The U.K. day-ahead gas price average in June 2012 was 55.17 pence per therm (pence/therm), down from 58.29 pence/therm in June 2012.
“The U.K.-Belgium gas Interconnector, the key link between the U.K. and the Continent, was out for maintenance in June this year, halting gas exports from the U.K.,” said Alex Froley, Platts European gas managing editor. “This could likely account for the divergence in prices seen last month. Normally maintenance happens later in the year.”
Tags: commodities, energy, Financial Market trends, Natural Gas, Natural Gas Prices