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Goldman Sachs Lowers 2026, 2027 TTF Gas Price Forecasts

ReutersFeb 9, 2026 2:33 AM

- GOLDMAN SACHS:

  • LOWERS BAL 2026/2027 TTF PRICE FORECASTS BY 2 EUR TO 34/21 EUR/MWH ($11.65/$7.40/MMBTU)

  • SAYS GERMAN MEDIA REPORTED THAT EU OFFICIALS ARE CONSIDERING EASING THE PHASE OUT OF FREE CARBON EMISSION ALLOWANCES TO INDUSTRIALS

  • SAYS THESE CHANGES WOULD SOFTEN EUROPEAN UNION ALLOWANCE (EUA) MARKET

  • SAYS CHEAPER CARBON LOWERS COAL GENERATION COSTS, ALLOWS NATURAL GAS TO GENERATE ANY GIVEN AMOUNT OF GAS-TO-COAL SWITCHING AT A LOWER PRICE POINT THAN PREVIOUSLY

  • SAYS IT MAINTAINS BEARISH 2028/29 TTF VIEW, WHEN IT EXPECTS EUROPEAN GAS PRICES TO AVERAGE 12 EUR/MWH (JUST OVER $4/MMBTU)

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