Yet it is still too soon to announce an end to the energy crisis.
For a start, prices remain well above normal.
Overall power prices are roughly twice what they were in mid-2021.
The same gas that costs around 75 Euro ($81) per megawatt-hour today sold for 10 Euro before covid-19.
Further drops are unlikely.
Gas demand from industry will probably pick up; gas-fired power stations may start to replace coal-fired ones.
And even with bursting storage facilities, Europe is still short of what the International Energy Agency, an official forecaster, reckons the continent will need for a bad winter next year.
Asian demand for gas is increasing, and will rise further still as China's economy returns to normality.
As Timera Energy, a consultancy, notes, the gas market is still operating on the edge of supply capacity, meaning sharp price movements remain possible.
Europe would do well to bank its luck.
Leaders could use the chance to rethink the myriad support schemes they introduced over the summer, many of which are costly, inefficient and untargeted.
They would be wise to focus money on the vulnerable, and to tie it to green investments.
After all, it is weirdly hot weather that has given Europe its current reprieve.
The fight against climate change will only become more acute as the energy crisis fades.