As of: February 14, 2024, 11:06 a.m
By: Andreas Jäger
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The price of gas has halved in the past twelve months.
Consumption in Germany has also fallen.
© Christian Ohde/Imago
The gas price on the stock exchange is currently below 25 euros per megawatt hour.
A new low since July 2023.
Munich - The European gas price is currently hitting its lowest levels: on Monday the price on the stock exchange slipped below 26 euros per megawatt hour, and on Wednesday morning it was even below 25 euros.
This means that the price of gas has more than halved in the past twelve months.
Such values were still a long way off last October.
The escalation in the Middle East conflict caused the price of gas to temporarily rise to over 50 euros.
From November onwards, things fell steadily again, so that the current value of natural gas has reached a new low since July 2023.
Weak economic activity causes demand for gas to fall
On the market, the price decline is explained, among other things, by the rather weak economy in the European Union.
As a result, demand for gas is currently lower.
This development is also confirmed by the figures for gas consumption in Germany.
According to the Federal Network Agency, gas consumption in the industry in the months October to December was a full 16 percent below the average consumption for the years 2018 to 2021.