European gas futures top €100 per megawatt-hour for first time since 2022

Dutch TTF futures reached €100.45 per megawatt-hour on October 28, up more than 4%, AFP reported. The price was far below the €345 reached in March 2022. Arne Lohmann Rasmussen cited fears of Middle East escalation and forecasts for lower wind and solar generation. AFP said analysts believe lower gas use and more renewables reduce the risk that a gas-price spike would bring electricity-bill hikes as severe as in 2022.