Dutch Power Eases on Strong Renewables While Gas Softens on US–Iran Breakthrough 

The downward pressure was primarily driven by strong renewable output across the region: wind generation came in above normal for most of the week, weighing on prices through the merit order, while solar output was also slightly above normal, suppressing daylight-hour prices. The exception came mid-week, when wind generation dropped on Wednesday and Thursday, producing a temporary upward move in prices, with the daily baseload climbing to €114.3/MWh on Wednesday and €111.9/MWh on Thursday — the firmest sessions of the week. By the weekend, prices fell sharply as demand softened and renewable output remained strong, with Saturday and Sunday clearing at just €29.4/MWh and €30.0/MWh respectively, dragging down the weekly average. 

TTF day-ahead prices remained tightly coupled with the month-ahead contract throughout Week 24, continuing to track the broader curve’s response to US–Iran geopolitical risk rather than spot-specific fundamentals. The DA traded at a small, consistent discount to the MA, holding within a narrow range of -€0.30 to €0.00/MWh and averaging around -€0.20/MWh over the week. The spread moved closer to zero around 10–11 June, driven by a slight increase in gas consumption as lower temperatures lifted near-term heating demand, and additionally by a reduction in Norwegian gas flows due to maintenance. The TTF DA outright averaged around €48/MWh over the week, before dropping towards the end of the week as positive developments emerged on the US–Iran deal negotiations.