European Gas Hub
No Result
View All Result
  • Premium Content
    • All
    • Coal Market
    • European Energy Policy
    • European Gas Pipeline Infastructure
    • European Gas Prices
    • European Gas Storage
    • European Gas Supply & Demand
    • LNG
    • Russia
    • Unconventional Resources
    • Hydrogen
    • European power generation
    • Other
  • Blog
  • Events
  • Industry Links
    • Industry Association
    • Research Institute / Think Tank
    • Regulatory Body
    • Government Body
    • Consultant
    • Gas Prices
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login
SUBSCRIBE
  • Premium Content
    • All
    • Coal Market
    • European Energy Policy
    • European Gas Pipeline Infastructure
    • European Gas Prices
    • European Gas Storage
    • European Gas Supply & Demand
    • LNG
    • Russia
    • Unconventional Resources
    • Hydrogen
    • European power generation
    • Other
  • Blog
  • Events
  • Industry Links
    • Industry Association
    • Research Institute / Think Tank
    • Regulatory Body
    • Government Body
    • Consultant
    • Gas Prices
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login
European Gas Hub
No Result
View All Result
Home Gas Prices

Italy’s gas hub prices react to colder weather

Editor by Editor
1 year ago
min read2 min
Italy’s gas hub prices react to colder weather
Share on FacebookShare on TwitterShare on Linkedin

Nothing has captivated the attention of players in the European gas market more in recent weeks than Russian gas flow dynamics and changing weather patterns across the continent. With no monthly entry capacity booked at the Mallnow point for December, RBP platform data on the results of daily Day-Ahead capacity auctions, which are made available to the public at around 17:00 CET, has become crucial to see the region’s supply picture. Meanwhile, the weather factor historically has a critical influence on gas hubs in the winter period, as clearly illustrated this time by late November’s price movements on the Italian PSV.

RELATED POSTS

European-gas-storage

The true value of European gas storage

7 days ago
European gas storage spreads normalise

European gas storage spreads normalise

2 weeks ago
European-gas-price

What’s behind the European gas price decline?

2 weeks ago

Before winter arrived on the meteorological calendar, Italy had already been affected by a spell of cold weather. Temperatures dropped sharply throughout the country at the very end of November, while some regions, Sardinia among them, were hit by snowfalls. Amid colder weather, gas consumption in Italy, which was rising steadily since October, jumped more than 30pc on 29 November from the previous day to reach the level last seen in February 2021. It was the first time in November since at least 2013 that the country’s gas consumption rose above 320 mcm/d.

Extreme weather events in Italy caused a significant widening of the Day-Ahead spread between the PSV and neighbouring market areas, which had already become wide in the previous few weeks on lower temperatures. The difference between the Day-Ahead prices on the Italian hub and the TTF increased to about €7.9/MWh on 30 November, the highest level since February 2018. On that same day, aggregated volume of trades on the contract, which was improving in line with heating demand over the course of the previous month, was 1.5 times as high as the average daily level over the period from September to November 2021.

In other supply situation, PSV prompt prices would likely have responded to colder weather in a different manner, but given limited scope for increasing imports from Austria, lower Algerian supplies, the TAP route being fully utilized as well as restricted send-out from the country’s LNG terminals, Italy had no choice other than to take more gas from the UGSs and attract imports from NWE. Between mid-November and early December, Italian storage withdrawals rose on average to 70 mcm/d, putting the country in the same league as other parts of Europe where gas stocks stand at record lows for the time of year. Flows from Switzerland via the Passo Gries entry point averaged 22.5 mcm/d from 29 November to 2 December, as compared with just 0.5 mcm/d for the period from 1 January to 28 November 2021.

It is impossible to say what particular type of weather Europe, or any other major gas region, will have during the whole winter. However, it is clear that players will have to deal with far more risks than in the previous months, and prices feel it perfectly.

Source: Yakov Grabar (LinkedIn)

Tags: Italian gas hubPSV gas pricesVTPA hub pricesYakov Grabar
Editor

Editor

Related Posts

European-gas-storage
Gas Prices

The true value of European gas storage

7 days ago
European gas storage spreads normalise
Gas Prices

European gas storage spreads normalise

2 weeks ago
European-gas-price
Gas Prices

What’s behind the European gas price decline?

2 weeks ago
gas-prices
Gas Prices

International natural gas prices – Cedigaz

3 weeks ago
Global gas supply set to tighten further in 2023
Gas Prices

Global gas supply set to tighten further in 2023

3 weeks ago
European gas prices drop to pre-war lows
Gas Prices

European gas prices drop to pre-war lows

3 weeks ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Posts

Global gas supply set to tighten further in 2023

Global gas supply set to tighten further in 2023

3 weeks ago
European gas prices drop to pre-war lows

European gas prices drop to pre-war lows

3 weeks ago
gas-prices

International natural gas prices – Cedigaz

3 weeks ago
Load More

Recent Post

European-gas-storage

The true value of European gas storage

7 days ago
European gas storage spreads normalise

European gas storage spreads normalise

2 weeks ago
European-gas-price

What’s behind the European gas price decline?

2 weeks ago
Load More

European Gas Hub is an online platform for sharing analysis and information about European natural gas markets more info

Categories

  • European Gas Prices
  • Energy Policy
  • European Gas Infastructure
  • European Gas Storage
  • Coal Market
  • Supply & Demand
  • Gas Supply & Demand
  • LNG
  • Other
  • Unconventional Resources

Recent Posts

The true value of European gas storage

European gas storage spreads normalise

What’s behind the European gas price decline?

Energise your Tuesday!

Sign up to receive our weekly newsletter with new European gas market reports, presentations & analysis. Every Tuesday.

By signing up, I agree to our TOS and Privacy Policy.

© 2020 EuropeanGasHub | All Rights Reserved

No Result
View All Result
  • Premium Content
    • All
    • Coal Market
    • European Energy Policy
    • European Gas Pipeline Infastructure
    • European Gas Prices
    • European Gas Storage
    • European Gas Supply & Demand
    • LNG
    • Russia
    • Unconventional Resources
    • Hydrogen
    • European power generation
    • Other
  • Blog
  • Events
  • Industry Links
    • Industry Association
    • Research Institute / Think Tank
    • Regulatory Body
    • Government Body
    • Consultant
    • Gas Prices
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login

© 2020 EuropeanGasHub | All Rights Reserved

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT

Energise your Tuesday!

SIGN UP to receive our weekly newsletter with new European gas market reports, presentations & analysis. EVERY TUESDAY!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?