Gas price drops with 7 percent, but does not have an impact on spot power prices.

Last week the Dutch power prices cleared at an average of 87.97 €/MWh, which is very similar to the previous two weeks. Despite a drop in gas price by 2.2 €/MWh to 32.2 €/MWh, there was no significant impact on power prices. This can be attributed to limited renewable energy supply and recurring daily power plant outages. The total wind and solar generation in the previous week was around 237 GWh and in the last week it dropped to around 148 GWh. Next to long term maintenance there where several unplanned outages last week at Eemshaven A, Moerdijk 2, Eemshaven 30, Claus C, Enecogen. The average price for July is currently at 88.46 €/MWh, which is higher than in 2023 and 2024 when it cleared at 71.79 €/MWh and 65.04 €/MWh, respectively. The corresponding gas prices during those months were 32.17 €/MWh and 29.85 €/MWh, respectively.

TTF prices fell last week as Europe continued to see strong gas supply, supported by steady LNG imports. The drop was also driven by lower demand compared to the first half of July, due to milder weather. In addition, Norwegian pipeline flows returned after an outage, which helped ease supply concerns and pushed prices down further.