Gas prices keep rising as
Photo: Johan Nilsson/TT

Gas prices keep rising as European storage levels remain low

The price of gas on the European market is just rising and rising. The commodity, which is important for electricity prices, is now more expensive than it was just after the war in Iran began on February 28.

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The price on Friday afternoon is 66 euros per megawatt hour, higher than the peak of just over 60 euros in mid-March. Since the turn of the year, the price has risen 134 percent.

Analysts believe it will be impossible to fill European gas storage to the previous target of 90 percent by winter. But a spokesman for the European Commission on Thursday downplayed the risk of an imminent gas shortage.

Currently, gas storage facilities are 62 percent full, compared with 74 percent at the same time last year, according to Reuters.

The high gas price has already affected electricity prices, especially in Europe, which is also affecting the electricity market in southern Sweden.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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