Continental prompt gas prices shot up to Eur30.00/MWh on Friday on forecasts that the severe cold snap would persist and concerns over supplies from Russia.
The Dutch TTF day-ahead gas contract gained nearly Eur3.50 day-on-day, trading at Eur30.00/MWh at midday Friday.
Similarly, gas prices for next-day delivery at the German trading hubs rose by Eur3.30 at the German NetConnect and Eur2.70 at the GASPOOL from the previous close, trading at Eur30.30/MWh and Eur30.75/MWh respectively.
"Colder weather forecasts are continuing, and people are still concerned about Russian flows," one trader said. "For instance, there are reports from Slovakia and the Czech Republic that gas flows from the east remain low."
Day-ahead prices at the PEG Nord also jumped, trading at Eur31.00/MWh -- a Eur2.60 day-on-day increase -- while next-day Austrian Baumgarten gas prices were heard at Eur31.75/MWh. "The highest we've had today," one trader said.
In contrast to day-ahead prices, gains on the forward curve were slight, with TTF March prices rising 15 euro cent to Eur24.15/MWh and Summer 12 contracts gaining 5 euro cent, trading at Eur23.75. TTF Cal 13 was flat day-on-day, changing hands at Eur26.80/MWh.
