Average gas price on the GET Baltic exchange down by a fifth in a year

In 2024, the average annual gas price on the daily market of the GET Baltic exchange, which operates in the Baltic States and Finland, was 39.53 EUR/MWh, representing a 19% decrease compared to 2023, when the average price was 48.97 EUR/MWh. The prices of individual transactions throughout 2024 ranged from 5.00 EUR/MWh to 100.00 EUR/MWh.

Last year, 8.4 terawatt hours (TWh) of gas were traded on GET Baltic. This represented 19% of the total consumption in the Baltic States and the Finnish region, which amounted to 43.6 TWh last year. The Lithuanian market area accounted for the largest share of gas purchases – 44% of the total gas purchased by market participants during the year.

“The year 2024 was marked by record activity on the GET Baltic exchange and a growing international community of market participants. Last year, 78 participants traded on the exchange, and 10 new participants registered from Lithuania, Latvia, Estonia, Denmark, Poland, Austria, and the United Kingdom. The attraction of new participants was driven by the consistently developed exchange operations together with regional infrastructure, and the planned integration of the Baltic and Finnish gas markets into the EEX exchange and European gas trading markets in 2025,” said Giedrė Kurmė, CEO of GET Baltic.

In December, the monthly gas price on the GET Baltic gas exchange was stable, rising by 1% compared to November from 46.50 EUR/MWh to 46.96 EUR/MWh. The gas price was 47.62 EUR/MWh on the Lithuanian market area, 45.98 EUR/MWh on the Latvian-Estonian common market area and 46.28 EUR/MWh in Finland. Individual transaction prices in December ranged from 35 EUR/MWh to  77 EUR/MWh.

More information:
Laura Šebekienė, Communications & Marketing Manager
Phone: +370 699 61246, [email protected]