European natural gas and energy contracts rise to record levels

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European natural gas and energy contracts jumped to record levels during Thursday’s trading, with preparations for the winter season, which begins preparations for it from tomorrow, Friday.

This is in light of the shortage of gas, coal and water stocks to produce electricity, and there are few signs that the situation will improve any time soon, with demand continuing to rise after the decline caused by the “Covid-19” epidemic.

According to Bloomberg data, Dutch natural gas contracts for next month’s delivery – the European benchmark – rose by about 13.4 percent to 98.23 euros per megawatt-hour, and British contracts also jumped 17.4 percent to a new high of 252.53 pence.

German energy contracts for delivery next year also rose 12% to 132 euros per megawatt hour, its highest level ever, and its French counterpart rose 10.3% to reach the record level of 135.5 euros per megawatt hour.

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The article, which was written in Al Borsa newspaper, was the rise in the prices of European natural gas and energy contracts to record levels.