In November, gas prices on the GET Baltic exchange increased by 11 percent

November saw record volumes of gas traded on the GET Baltic gas exchange in the Baltic States and Finland, despite higher gas prices. Last month, gas averaged €46.50 per megawatt-hour (EUR/MWh), or 11% more than in October (41.74 EUR/MWh). Compared to last year, the November gas price is 6% lower this year – last year, gas in the region averaged  49.35 EUR/MWh in the last month of autumn.

In November, the price of gas rose at all market areas: in Lithuania, gas was 11% more expensive, averaging 47.58 EUR/MWh. In the common Latvian-Estonian and Finnish market areas, gas increased by 10%, with an average price of  45.39 EUR/MWh at both market areas. Individual transaction prices in November ranged from 38 to 57.55 EUR/MWh.

“Last month, a record volume for November delivery – 1 TWh of natural gas – was traded. On certain days in November, price differences were more favorable in the Baltic States and Finland compared to other European regions. This situation encouraged market participants to actively use the exchange instrument. Such periods demonstrate the appeal of our market, made possible by the well-developed gas transmission infrastructure,” says Giedrė Kurmė, Head of the GET Baltic exchange.

The number of transactions on the GET Baltic exchange continued to grow in November.  Nearly three thousand trades resulted in the exchange of 1 TWh of natural gas, marking the highest volume ever traded for November in GET Baltic’s history. Compared to October, trading turnover increased by 42 percent. More than half of the total volume – 583 GWh (58 percent) – was purchased on the Lithuanian trading platform, while 224 GWh (22 percent) was traded on the Latvia-Estonia shared platform, and 199 GWh (20 percent) in Finland.

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