“August futures on the TTF trading hub in the Netherlands jumped as much as 10%, reaching $1,722 per 1,000 cubic meters or $168.80 per megawatt hour in household terms [161.5 euros].”
July 4, 2022: “Natural gas on the Dutch-based TTF trading hub at one point rose more than 10% to change hands above 160 euros a megawatt-hour for August futures. A year ago the product traded for 22.4 euros.”
December 24, 2021: The price of Russian gas for European countries under long-term contracts now reaches $250-300 per 1,000 cubic meters, Russian Deputy Prime Minister Alexander Novak said in an interview with Rossiya 24 TV channel.
“Today, the countries that receive [piped Russian natural gas] under long-term contracts, Germany, Serbia, and other countries, they receive it at around $250-300 [per 1,000 cubic meters],” he [Novak] said.
FYI, a couple more conversions:
Divide price of natural gas per mwh by 5 to get the electrical generation equivalent price per kwh. This is due to the roughly 50% conversion efficiency of gas plants, plus the conversion of mwh to kwh. So the $168.80 comes out to just under 34 cents per kwh, more than 3 times my Texas rates, and that 34 cents is before adding distribution costs and green energy taxes.
For conversion of mwh to equivalent barrel price of oil, multiply the mwh rate by 1.7. So about $286 per barrel, per this pricing.