Gas price surges to a record high in Europe on supply concerns

  • November contracts at the Dutch TTF hub — a European benchmark for natural gas — were trading at around 118 euros per megawatt hour (MWH) just after midday in London.
  • The front-month contract has risen almost 400% since the start of the year.
  • Several British energy suppliers have collapsed amid the gas price crisis. September alone reportedly saw nine companies cease trading.
  • In recent weeks, governments in Spain, Italy, Greece, and France have taken drastic actions to minimize the impact of wholesale price rises on consumers. Source CNBC