European gas prices tumble amid warm January weather

Demand for heating in UK and elsewhere falls but concerns remain over supplies this winter

A spell of mild weather in the UK and Europe has sent wholesale gas prices tumbling in a respite from the high prices that have led to soaring energy bills.

European prices for delivery in February fell by 4.3% to €73.7 a megawatt hour while UK prices fell by 3.8% to 179p a therm.