The first quarter of the year was one of the most active for exchange participants in the history of GET Baltic. As many as 66 market participants placed buy and sell orders. In the first quarter of the year, the volume of submitted orders to sell increased by 19% (11 TWh) and to buy by 45% (10 TWh) compared to the first quarter of the year 2022. The steady increase in activity on the exchange has encouraged the registration of new exchange participants, with as many as 5 new exchange participants from Netherlands, Latvia, Poland and Finland registered in the first quarter of 2023.
In March the Baltic and Finnish natural gas price index BGSI, which measures price changes on a daily market was 49,24 EUR/MWh, the lowest average price in the last 18 months. The average price on the GET Baltic exchange has fallen by as much as 80% since August 2022, when the highest average price since the start of the war in Ukraine was recorded (241.69 EUR/MWh). The decrease in the price of natural gas has been influenced by warm weather, high storage volumes and increased liquified natural gas (LNG) imports.
In the first quarter of 2023 more than 9 K transactions were fulfilled on the GET Baltic exchange. A total of 3 TWh of natural gas was traded which is 37% more compared to the same period last year (2.4 TWh in Q1 2022). The volume traded on the monthly market in the first quarter of the year exceeded 572 GWh, which is 3 times the volume traded in the previous year 2022 (167 GWh).
Product and Service Development Project Manager
Tel. +370 681 74822