German prices ease on milder weather o/look

Friday, December 14, 2012

German gas prices fell across the board Thursday, with a milder weather outlook weighing on contracts on the prompt, and later dated contracts drifting lower on the back of falling oil.

The day-ahead contract at the NetConnect closed at Eur27.45/MWh, 25 euro cent down from Wednesday's assessment, while at the GASPOOL it shed 30 euro cent to settle at Eur27.50/MWh.

According to Platts data, this is the lowest day-ahead prices at both hubs have been closed at since November 30, right before the start of two weeks of severely cold temperatures that gripped Germany.

"Forecasts are indicating mild temperatures for next week, which should weigh on prompt prices," analysts by Platts unit Bentek Energy said.

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