EU agrees historic phase-out of Russian gas by 2027
December 3, 2025
(Timera Energy) After plunging through Henry Hub levels in Q2, European hub prices have been on a recovery path since early May. Front month prices remain weak but are now trading again at similar levels to Henry Hub. But the TTF forward curve has risen around 15% since early May. A very steep curve contango remains with forward prices increasing 250% over the next 6 months. That is also flagging a surge in power prices across Europe into the winter, given gas-fired power plants dominate price setting across European power markets.
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