TTF Plummets After False News Report

Last week, the average Dutch power price was 77.5 €/MWh. From Monday to Friday, renewable generation was consistent, with wind speeds slightly above the seasonal average in Northwest Europe, which generally kept prices down. Gas and coal-fired power plants were marginal, except during the afternoon hours.
TTF gas prices dropped sharply on Thursday afternoon following reports that Ukraine had agreed to import gas from Azerbaijan in order to export it to European countries. The contract between Gazprom and Ukraine is set to expire at the end of this year, and Ukraine has stated it does not intend to renew it. Several news outlets reported that Azerbaijan was willing to buy Russian gas and export part of its own reserves to Europe. However, it was later revealed that no deal had been reached between Ukraine and Azerbaijan, causing gas prices to rise again. Despite this, there was no full recovery, and the October gas price closed nearly 1.5 euros lower at 34.4 €/MWh.
CO2 prices also fell by 1.5 euros, closing at 63.4 €/EUA on Friday afternoon. Dutch electricity prices declined as well, but clean spark spreads increased. October and November contracts closed 2 and 3 euros lower at 75.3 and 88.7 €/MWh, respectively. The spark spreads for those months increased by about 1 euro and stood at -13 and -2 €/MWh.

For 2025, gas prices fell by approximately 1.5 euros, closing at 35.8 €/MWh. CO2 prices dropped by 1.5 euros to 65.5 €/EUA. Dutch power became 2 euros cheaper, closing at 81.5 €/MWh. The clean spark spread increased by 1 euro, reaching approximately -10 €/MWh.

Weekly changes