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European electricity market prices across major European countries in July 2026

European electricity market prices fall as wind output rises, while TTF gas pushes Italy higher

European electricity market prices declined across most major markets in the fourth week of July as stronger wind generation and lower demand eased pressure. Italy and Great Britain moved against the trend, with Italy particularly affected by rising gas costs. Higher TTF gas and CO₂ emission allowance prices offset the impact of increased wind output and weaker demand in Italy, […]

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Line chart of traded volumes (TWh) at selected hubs 2011–2025; TTF/10 rises steeply to ~2100–2700 while other hubs show moderate growth.

European gas hubs prove resilient despite shifting gas flows

European gas hubs have demonstrated remarkable resilience despite the structural upheaval caused by the end of Russian gas transit through Ukraine. Trading activity continued to grow, liquidity remained strong and Europe’s liberalised gas market adapted quickly to changing supply routes, reinforcing the role of TTF as the continent’s dominant pricing benchmark. Total traded volumes increased by 16% in 2025, compared with […]

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EU gas imports by source and route from 2021 to 2026

European gas storage remains under pressure despite easing Middle East tensions

European gas storage remains under pressure despite signs of de-escalation in the Middle East, with lower-than-normal inventories, continued competition for LNG cargoes and uncertainty over Strait of Hormuz shipping expected to keep prices elevated heading into winter 2026/27. Europe entered the 2026 refill season from an unusually weak position after inventories fell to just 28% at the end of winter. Baringa […]

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Germany coal and lignite phase-out compared with new gas capacity and reserve requirements

German gas-fired generation struggles to keep pace with coal phase-out

German gas-fired generation is struggling to keep pace with Germany’s coal phase-out, with new dispatchable capacity unlikely to arrive quickly enough to replace retiring coal plants. The resulting gap could tighten power markets, increase price volatility and raise fresh concerns over security of supply. Germany plans to tender up to 9 GW of new controllable capacity, expected to be largely gas-fired, […]

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EUROPEAN GAS INSIGHTS
UPCOMING EVENTS