Our bank accounts are finally getting the break they need, with European gas prices taking a nosedive. Hoera! 📉
In fact, gas prices fell to their lowest price since the summer of 2021 this Monday, according to NU.nl.
Amsterdam’s leading gas exchange even saw the price per megawatt hour fall below €43.
The reason for it
Gas prices shot up last year due to the war in Ukraine, with price peaks of more than €340 last August.
The sharply reduced gas supplies from Russia to Europe had many people stressing over sky-high energy bills and fearing gas shortages this winter.
READ MORE | Short showers and cold homes: Dutch gas consumption at lowest point in 50 years
However, since then, Europe’s dependence on Russian gas has been dramatically reduced thanks to the importing of more gas from the United States and Qatar.
As a result of both consumers and companies becoming more economical and this year’s relatively mild winter, gas stocks have remained thankfully stable in various European countries.
What are your thoughts on the falling gas prices? Tell us in the comments below!Â