Tony Jordan, of energy consultancy Auxilione, warned that wholesale prices could still potentially shoot up again in the coming months because of disruption, for instance if demand for liquefied natural gas (LNG) spikes from China or if there are more cold snaps.
He said refilling European gas storage tanks without supplies from Russia this year also poses potential challenges.
Mr Jordan added: “We’ve never had to live without Russian gas, we’ve never had to have such a big reliance on LNG.”