The gas price on the GET Baltic exchange was stable in March, decreasing by 2%

On the GET Baltic natural gas exchange operating in the Baltic States and Finland, gas averaged EUR 30.73 per megawatt-hour (EUR/MWh) in March. That is 2% lower than in February (31.39 EUR/MWh) and 38% lower than in March 2023, when the average gas price in the region was 49.24 EUR/MWh. The stability of gas prices in the Baltic-Finnish region over the past month has been influenced by the warm spring weather and gas demand remaining at the same level.

The average price in March on Lithuanian market area was 3% higher than in February at 29.73 EUR/MWh. On the common Latvian and Estonian market area, the gas price increased by 13% to 29.20 EUR/MWh. In Finland, the gas price decreased by 26% to 33.44 EUR/MWh. The price difference between Lithuania, the common Latvian-Estonian and Finnish trading market areas narrowed significantly in March.

“The gas prices in Finland, which surged during the winter, returned to the overall level of all three trading areas in March. At that time, the price difference between the Baltic countries and Finland was mainly influenced by the closure of the Balticconnector gas pipeline connection. Now, the market’s attention has been drawn to recent news about the start of repair work on the Balticconnector,” says Giedrė Kurmė, the CEO of GET Baltic exchange.

In March, the volume of gas purchases was similar on all market areas. In Lithuanian and the common Latvian and Estonian market areas, 34% of the total volume of gas was traded, while in Finland it was 32%. 568 gigawatt hours (GWh) of gas was traded on the exchange in March (compared to 1 TWh in February). Last month, 64 participants were active on the GET Baltic exchange, with 2,200 gas purchase and sale transactions concluded.

More information:
Laura Šebekienė, Communications & Marketing Manager
Phone: +370 699 61246, laura.sebekiene@getbaltic.com