Trend of the TTF index
As with all values listed on the stock exchange, natural gas can also undergo positive or negative fluctuations due to various factors such as:
- increase in volumes of gas available on the market;
- reduction in demand due to increased use of alternative sources;
- geopolitical crises and tensions;
- climatic conditions;
- fluctuation in the prices of fuels such as coal and oil.
The prices of the gas raw material component of the TTF index are expressed in €/MWh and converted into €/Smc. The monthly gas quotations are calculated on the basis of the arithmetic mean of the single daily quotations in the reference month of the supply.
TTF index and indexed offers for gas supply
In the free market we can find gas offers at a fixed price where the price of the gas raw material component and the duration of this price are fixed by the seller, or offers at a variable price where the price of the gas material component varies in relation to the retail price. natural gas wholesale.
One of the main advantages of adhering to an indexed offer is the immediate advantage that you get in your bills when the index price TTF is declining.
Enel Energia offers indexed to the TTF
Enel Energia's offers in the Business segment are indexed to TTFqa.
The value of the TTFqa index is determined in each quarter as the arithmetic mean of the quarterly OTC forward quotations relating to the quarter in question, at the TTF hub, recorded by ICIS-Heren with reference to the second calendar month preceding the same quarter. The arithmetic mean is expressed in €/MWh and converted into €/Scm by multiplying by the conversion factor 0.0107 referring to a calorific value of 0.03852 GJ/Scm.
Where you can find the value and trend of the TTF
The value of the TTFqa, the price covering the procurement costs of natural gas in the T-th quarter, is published (when the data is available) before the beginning of each quarter on the website of the Regulatory Authority for Energy, Networks and Water Environment (ARERA) with reference to supplies of natural gas with a reference Higher Calorific Value equal to 0.038520 GJ/Smc.
On the ARERA website, in the section dedicated to the economic conditions of the PLACET offers, the price covering the costs of supplying natural gas is identified with the name P_INGt, shown below with reference to the first quarter of 2023:
| P_INGt | €/Smc (*) | €/GJ |
| I quarter 2023 | 1.356833 | 35.224116 |
*For supplies of Natural Gas with a reference calorific value of 0.038520 GJ/Smc
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