On the GET Baltic gas exchange, which operates in the Baltic-Finnish region, gas in October averaged 41.74 euros per megawatt-hour (EUR/MWh), or 3% higher than in September (40.37 EUR/MWh). Compared to last year, the gas price this October is 18% lower – last year at the same time, gas in the region averaged 51.06 EUR/MWh.
“The gas price on the GET Baltic exchange increasingly correlates with the Dutch natural gas price index TTF, which in October was around 40 EUR/MWh in the spot market. There will be even less price differences after trading in the Baltic and Finnish region moves to the EEX exchange platform in May 2025. This transition will create opportunities for competition, more liquid trading, and price convergence. Active preparations for this change are currently underway, and we are already seeing increased interest from international participants in the Baltic-Finland region,” says Giedrė Kurmė, head of the GET Baltic exchange.
In October, gas prices rose across all trading areas: in Lithuania, gas costed 4% more, averaging 42.76 EUR/MWh; in the Latvian-Estonian common market area, gas prices also rose by 4%, averaging 41.39 EUR/MWh; and in Finland, gas prices increased by 3% to 41.16 EUR/MWh. Individual transaction prices in September ranged from 37 to 49.85 EUR/MWh.
In October, the number of concluded transactions on the GET Baltic exchange significantly increased to 2,831 trades, amounting to 708 GWh of natural gas. This is the highest monthly trading volume since February this year and 63% more than was traded at the start of autumn, in September (434 GWh). All of this gas volume was traded in the daily market. Most gas in October was purchased in the Latvian-Estonian common market area – 305 GWh (43% of the total volume), in the Lithuanian market area – 221 GWh (31% of the total volume), and in Finland – 183 GWh (26% of the total volume).
More information:
Laura Šebekienė, Communications & Marketing Manager
Phone: +370 699 61246, [email protected]
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