On Monday, European natural gas prices continued to decline from last week.

European reference price, the Title Transfer Facility future in the Netherlands, is down by 7% to EUR 192.44 per MWh in Monday morning trading against the closing rate late last week.

Market players are still waiting for details to emerge from the EU regarding plans to tame galloping energy costs pressuring households and raising the risk of short supply.

Concrete measures are expected to be presented this week, writes Bloomberg News.

Last week, gas prices in the EU fell due to the prospect of intervention, with the member states’ energy ministers having met on Friday to discuss proposals from the EU Commission meant to lower continental energy costs.

In late August, the gas price hit a record at EUR 342 per MWh, sending shock waves through Europe’s energy markets.

Around Jan. 1 this year, gas sold for EUR 70 per MWH, with the 2020 price fluctuating between EUR 3.5 and EUR 20 per MWh.

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