While calls for consumer relief from high energy prices are getting louder and louder, and not only in German politics, there were signs of relaxation on the commodity markets at the beginning of the week.
Hopes for a negotiated peace in the Russian war of aggression against Ukraine and warmer temperatures ensured that the European gas price fell by 14 percent on Monday morning to 113.50 euros per megawatt hour.
Although the price then rose again somewhat, it has fallen by a good 56 percent compared to its high of 212 euros exactly one week ago.
Any progress in the peace talks will lower the risk premium, writes the consulting firm Inspired Energy.
However, since the risk of stopping gas deliveries from Russia is still assumed to be given, the gas price is still at a significantly higher level.
Until last July, the average price per megawatt hour had been less than 20 euros since 2007 and had never exceeded 40 euros.
In addition to milder weather in north-western Europe, increased deliveries of liquid gas in European ports are also helping to ease the situation.
The filling level of the gas storage is slowly moving back to the five-year average level, it is said.
Nevertheless, the analysts from Energi Danmark assume that the price fluctuations on the gas market will continue.