In the last summer month, the price of gas on the GET Baltic exchange rose by 12%

On the GET Baltic gas exchange, which operates in the Baltic states and Finland, gas averaged 42.45 EUR per megawatt-hour (EUR/MWh) in August, which is 12% more compared to July (37.84 EUR/MWh). This August’s price is on a par with the average price for the same month a year ago, with gas in the region averaging 42.69 EUR/MWh in August 2023.

The increase in gas prices recorded in the Baltic States and Finland mirrored the increase in European gas prices, which were shaped by the TTF Spot market. This August, gas prices increased in all market areas: in Lithuania, gas was 12% more expensive at an average price of 43.49 EUR/MWh, in the Latvian-Estonian common market area the price rose to 41.92 EUR/MWh, and in Finland to 41.73 EUR/MWh. Individual transaction prices in July ranged from 30 to 50.85 EUR/MWh.

In August, 2323 transactions were concluded on the GET Baltic exchange, resulting in 432 GWh of natural gas traded. The vast majority of the gas (417 GWh) was traded on the daily market and the rest on the monthly market. Most of the gas was purchased in the common Latvian-Estonian market area, where 189 GWh (44% of the total) were traded, followed by 175 GWh (40%) in the Lithuanian market area, and 68 GWh (16%) in Finland.

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