Natural gas prices have fallen by a third on the GET Baltic exchange

On the GET Baltic gas exchange, natural gas prices are decreasing for the second month in a row. In October, the value of the Baltic countries and Finland gas price index BGSI amounts to 144 euros per megawatt hour (EUR/MWh). That is 32 percent less compared to September, when the gas price was 212 EUR/MWh. From the peak prices in August, when one megawatt hour of gas cost up to 320 euros, at the beginning of October, the transactions prices concluded on the exchange fell to less than 100 EUR/MWh. The price drop on the exchange was influenced by the prevailing trends in Europe: the decreasing demand due to the decline in gas consumption and filled up gas storages, the price of natural gas decreased significantly on European exchanges spot markets.

Due to the fall in gas prices, the trading volume of the exchange grew. During the first 11 days of October, 201 GWh of gas were traded. This is 27 percent more than it was sold in the entire month of September (158 GWh).

In the “GET Baltic” exchange, the average price of gas in the short-term market in the Lithuanian market area is 34 percent lower than in September and currently stands at 138 EUR/MWh. In Latvian-Estonian common market area the price is 29 percent lower – 150 EUR/MWh and in Finland the price is 30 percent lower – 151 EUR/MWh. In the beginning of October, prices of individual transactions range from 99 EUR/MWh to 205 EUR/MWh.

In case of questions please contact:

Laurynas Pilkauskas
Trading and Business Analyst
Phone: +370 690 24229

Phone: +370 5 236 0000

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