Average natural gas prices on the GET Baltic exchange rose by 4% in May

 In May, the average price of natural gas on the GET Baltic exchange, operating in the Baltic States and Finland, was 41.01 euros per megawatt-hour (EUR/MWh). This marks a 4% increase compared to April, when the average price stood at 39.40 EUR/MWh.

In Lithuanian and the common Latvian–Estonian market area, gas prices rose by 4% each. The average price in Lithuania reached 41.31 EUR/MWh, while in the Latvian–Estonian zone it was 40.19 EUR/MWh. In Finland, a 3% increase was recorded, with the average price rising to 40.49 EUR/MWh. Individual transaction prices in May ranged from 36.40 EUR/MWh to 46 EUR/MWh.

Higher gas prices did not dampen market participants’ activity — trading volumes remained strong in May. “For the second month in a row, we’re seeing record-high trading volumes on the exchange, which shows that the exchange is recognized as an important tool for balancing fuel portfolios for both suppliers and consumers,” says Giedrė Kurmė, CEO of GET Baltic.

In May, the total volume of concluded transactions on the exchange reached 888 GWh of gas — the highest amount ever traded in the month of May in GET Baltic’s history. By comparison, 1.1 TWh of gas was traded in April.

The majority of natural gas — 636 GWh or 72% of the total volume — was purchased on the Lithuanian market area. In the common Latvian–Estonian market area, 153 GWh were traded (17%), while in Finland — 99 GWh (11%). Cross-border transactions accounted for 16% (139 GWh) of the total traded volume. Last month, 53 market participants actively traded on the exchange, concluding over 2,600 transactions.

More information:
Laura Šebekienė, Communications & Marketing Manager
Phone: +370 699 61246, [email protected]