Europe Basks in Cheaper Gas This Winter

• European gas prices have plummeted over 50% compared to last year, falling below €25/MWh in February 2024 • Mild winter weather and high gas storage levels across Europe have reduced heating demand • Lower industrial gas demand due to economic downturn since 2022 • Renewables and nuclear performing well, reducing need for gas • Analysts expect continued low prices in spring, but risks remain of price spikes in future winters