Prices fell 14.5 percent on Tuesday morning to around 48.30 euros per megawatt-hour for futures contracts on the Amsterdam Commodity Exchange.
But despite the drop, the price of fossil gas has risen 72 percent since the start of the year.
Since the U.S. and Israeli attack on Iran on February 28, the flow of fossil gas from the Persian Gulf countries has been halted after Iranian threats to energy transport through the Strait of Hormuz. This has pushed gas prices in Amsterdam to over 60 euros per megawatt-hour - the highest levels since 2022.
Normally, one-fifth of the world's fossil gas is transported by ship through the strait.
