Regional Gas Exchange GET Baltic has launched new market area in Finland

From 1st January 2020 Regional Gas Exchange GET Baltic has expanded its geographical coverage by launching new market area in Finland. Due to the merger of the Latvian and Estonian natural gas markets, the market areas were also merged on the Exchange into one common market area. In order to ensure the continuous trading opportunities after expanding its activities, the Exchange has extended trading session hours and hours of implicit capacity allocation.

In one month after implemented changes the number of concluded transactions increased by 45% comparing year on year, 1,900 transactions were concluded this January (January 2019 – 1313), traded volume amounted to 560 GWh natural gas. One third (33%) of the purchased gas were bought in the newly launched Finnish market area (in Lithuania – 61%; in Latvia-Estonia – 7%). 100% of the Finnish market area registered participants used the opportunity to trade on the Exchange, all of them (22 participants) actively submitted orders. In total, during January, 47 participants actively submitted orders and 45 of them concluded transactions (January 2019- 29).

Baltic-Finnish Gas Spot Index (BGSI) which captures daily market gas prices changes, value in January 2020 was 14.98 EUR/MWh. Participants concluded transactions in Lithuanian market area paid the weighted average price of 14.54 EUR/MWh, in Latvian-Estonian common market area – 14.38 EUR/MWh, Finnish market area – 16.20 EUR/MWh.

More detailed information is on the Baltic Gas Exchange Trading Report for the January 2020.

All Baltic Gas Exchange Trading Report are available at www.getbaltic.com.

 

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