Gas prices have reached new highs after a few relaxed weeks.

As anticipated, the drastic change in temperatures in recent days, now reaching below-average lows for the season, has caused the gas markets, both the Dutch TTF and the Spanish MIBGAS, to reach maximum prices for the Mes+1 product.

In the case of the TTF, a price of €144.45/MWh was seen, a price that has not been seen since mid-October. As for the MIBGAS, prices above €120/MWh, like those seen in recent days, have not been reached since the end of September.

It should be noted that, due to the climatic situation experienced in recent weeks, significant gas consumption has been delayed, and it is now when we will begin to see the effects of the cold and observe in the price quotations of January 2023 how the reduction in Russian gas imports can affect until March.