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The Latest Breaking News from Gas Prices

'Feels like summer': Warm winter breaks temperature records in Europe

Record-high winter temperatures swept across parts of Europe over the new year, bringing calls from activists for faster action against climate change while offering short-term respite to governments struggling with high gas prices.

Reuters

Global economy 2023: how governments could make the energy crisis worse this year

This is the second instalment in our series on where the global economy is heading in 2023, which started with this article on global inflation.

The Conversation

Cost to Treasury of subsidising home energy bills falls by £5bn, experts say

Drop in wholesale gas prices means the cost to the government of the energy price guarantee will be reduced

The Guardian - UK

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Why UK bills are unlikely to drop for ‘years’ despite huge wholesale price fall

The gas market can be complicated so we’ve broken down some of the key details explaining why your bills are unlikely to fall even though the price of gas has dropped to levels not seen since before Russia's invasion of Ukraine

Daily Mirror

Wholesale UK gas prices now lower than at start of Ukraine war

Natural gas futures have fallen below 170p over the past few days, whereas it cost over 500p following Putin's invasion of Ukraine, and over 650p in August

Wales Online

Power blackouts now unlikely after wholesale gas prices fall across Europe

Next fortnight is forecast to remain mild, which has helped shore up optimism over gas supplies

Wales Online

Gas prices back under levels seen before Russia’s invasion of Ukraine

As the government’s energy price guarantee goes up, there is hope for bill payers as wholesale gas prices fall

Evening Standard

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Gas cap won't impact investment: Albanese

A 12-month cap on the price of gas has begun as part of the federal government's energy relief measures agreed by state and territory leaders.

AAP

Venice glassblowers get lifeline to cope with high gas prices

Venice glassblowers struggling with soaring energy prices are set to get government support for the "jewel" of Italy's manufacturing sector, known world over for the colours and sophistication of its art.

Reuters

High gas prices won’t be a one-winter problem, warns energy market expert

Cornwall Insight says the market may not get back to pre 2021 levels for the rest of the decade

Evening Standard

EU agrees to cap gas prices, angering Russia

After months of negotiations, European Union energy ministers have agreed to a price cap for natural gas at 180 euros per megawatt hour. The issue has split the bloc, and the agreement drew an immediate warning from Russia, which has cut off most of its gas deliveries to Europe.

Radio France Internationale

2 Oil and Gas Stocks to Buy Into the New Year

Energy has outperformed the broader market this year. Despite the recent decline in oil and gas prices from their peaks, analysts remain bullish on the sector’s performance next year. Thus, as we head into the new year, it could be wise to buy fundamentally sound energy stocks Shell plc (SHEL)…

StockNews.com

EU countries agree gas price cap to battle energy crisis

The 27-nation bloc has agreed to trigger a cap if gas prices exceed 180 euros per megawatt hour for three days.

Al Jazeera

EU Countries Agree Gas Price Cap to Contain Energy Crisis

European Union energy ministers on Monday agreed a gas price cap, after weeks of talks on the emergency measure that has split opinion across the bloc as it seeks to tame the energy crisis. The cap is the 27-country EU's latest attempt to lower gas prices that have pushed citizens'…

Asharq Al-Awsat

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The Guardian - UK

Rishi Sunak scraps energy supply taskforce set up by Liz Truss

Government shelves plan to secure long-term contracts because ‘locking in while gas prices are this high doesn’t make sense’

Zenger

Lower Gas Prices Mean More Winter Road Trips For Americans

A survey of 2,000 drivers looked at their winter driving plans. The post lower gas prices mean more winter trips for Americans.

The New Daily

Yes, the government’s price cap is overly generous to gas producers. But it was necessary

To tackle the energy crisis about to send our bills skywards, the Albanese government last week capped gas prices temporarily in the east coast market,

The Conversation

Yes, the government's price cap is overly generous to gas producers. But it was necessary

To tackle the energy crisis about to send our bills skywards, the Albanese government last week capped gas prices temporarily in the east coast market, proposing a figure of A$12 per gigajoule. A gigajoule of gas has the same energy as about 26 litres of petrol.

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Evening Standard

Gas prices up sixfold in six weeks as cold snap tightens grip on London and the UK

The Energy Price Guarantee caps the typical annual household energy bill at £2,500 and is going to cost taxpayers more

The Guardian - AU

Albanese government’s energy bill passes Senate as Dutton warns price caps will be ‘catastrophic’ for economy

Prime minister says opposition’s stance was a vote for high power prices after package capping gas prices and funding consumer rebates is legislated

ABC News

Government imposes one-year price cap on gas, but Australians still face hundreds in energy bill rises

An extraordinary move to temporarily cap gas prices will slow runaway electricity costs, but Australians should still expect to see their bills increase next year.

The Independent UK

What is inflation and what is its current rate in the UK and Europe?

UK inflation hit a 41-year high in October as gas prices soar

ABC News

Plan to cap gas and coal prices wins enough support to pass parliament

The federal Greens are lending their support to a plan to cap coal and gas prices and provide energy bill relief in return for a funding package to help households and businesses get off gas faster.

Al Jazeera

When will global gas prices go down to pre-Ukraine war levels?

Energy analysts explain why much of the world can expect high prices for at least the next two years.

Reuters

EU delays decision on natural gas price cap, countries still at odds

European Union energy ministers meeting in Brussels on Tuesday failed to strike a final deal on a bloc-wide cap on natural gas prices, after months of debate between countries over whether the measure can ease Europe's energy crisis.

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