It is from spring when Europe prepares for winter, at least as far as the supply of natural gas is concerned to face the energy consumption of families and companies in the cold months, when it skyrockets. In April, when the underground natural gas storage facilities are already half empty from the cold period being left behind, the different member states begin to fill these deposits. Furthermore, doing so when demand falls – the arrival of good weather and the entry of more renewable energy translates into a drastic drop in gas consumption, especially in northern Europe where seasonality is very marked – means that companies buy fossil fuel at a more reasonable price.

The price of natural gas in the Netherlands, the largest market in Europe, has surged by more than 25% this January, driven by renewed geopolitical tensions, particularly the clash between US President Donald Trump and European Union leaders over the American magnate's intentions to annex the EU. The price of gas on the TTF (the Dutch market) closed at €28.161 per megawatt-hour (MWh) in 2025, compared to over €36 on Tuesday. In the Spanish market, Mibgas, the price closed at €30.19 per MWh in 2025, but was above €37 on Tuesday.