New gas boost that reaches 246.5 euros per MWh on the square in Amsterdam. Futures contracts for the month of September rose 11.99%, while on the London market methane prices rose 16.38% to 492 pence per thermal unit (Mbtu).
The peak
On an annual basis, the increase is 250% in Amsterdam and 188.33% in London. To reach the high recorded so far, one has to go back to last March 8th, when natural gas rose to 247.69 euros per MWh on the day and then closed at 184.24 euros. However, in the London market, the highest price recorded so far was 452.99 pence per Mbtu on July 27, with a closing price of 422.93 pence.
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The Effects of the Drought
It is no longer or no longer only the war that is driving up raw material and energy prices. Weather events are now the focus of attention. Especially the hot summer that dries up the rivers. Drought makes it more expensive to transport fuel.