Wholesale gas prices fall 11% but remain elevated late into next summer                

Continent's household energy crisis may not be easing any time soon

The price of wholesale gas for delivery in February fell by 11% to €86.75 per kilowatt per hour.

Wholesale gas prices across Europe fell 11% today as tensions over Ukraine eased, but prices long into next summer suggest the continent's household energy crisis will not be easing any time soon.

Gas prices have eased in recent days as the potential talks between the US and Russia about deescalating the crisis over Ukraine has eased fears of energy traders about the Kremlin turning down the huge gas supplies it delivers to western Europe.