In August 2023, a total of 2,726 transactions were concluded on the GET Baltic gas exchange. A total of 683 gigawatt hours (GWh) of natural gas traded was traded which is 91% more compared to the previous month or even 73% more compared to the same period last year (August 2022: 394 GWh). This sharp increase in gas volumes traded is due to the increase in electricity prices, which has favored electricity generation in the Baltic States using natural gas. In Lithuania, as much as 52% of the total electricity consumed in Lithuania was generated in August. Of the total volume traded, 670 GWh of natural gas was traded on the daily market and 13 GWh on the monthly market.

The gas price in August on Baltic and Finnish market area rose by 16% compared to July to 42.69 EUR/MWh, but fell by as much as 82% compared to the same period last year, when the highest average price since the start of the war in Ukraine (241.69 EUR/MWh) was recorded.

In August 2023, 218 GWh of gas was traded on the GET Baltic exchange in cross-border (ICA) transactions, an increase of 97% compared to the previous month. The Lithuanian market area accounted for the largest share of August’s purchases – 45% of total volume, the Latvian-Estonian common market area 21% and Finnish market area 34%.

More information:
Roberta KaklienÄ—
Product and Service Development Project Manager
Tel. +370 681 74822

Phone: +370 5 236 0000

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