The gas price on the GET Baltic exchange increased by 8 percent in April

On the GET Baltic gas exchange operating in the Baltic States and Finland, gas averaged EUR 33.30 per megawatt-hour (EUR/MWh) in April. This is 8% more than in March (30.73 EUR/MWh) and 30% less than in April 2023, when the average gas price in the region was 47.89 EUR/MWh.

“The gas price in the region went up in mid-April due to the unexpectedly cold weather and the increased demand for gas in the market. Later, as the weather warmed, the gas price trajectory began to slope downward. The price drop was also influenced by the Estonian-Finnish gas interconnection Balticonnector which started operating in 22 of April. Due to this circumstance, the price differences between the different market areas of the GET Baltic exchange also decreased. This shows that the additional gas supply alternative creates favorable conditions for price convergence,” says Giedrė Kurmė, CEO of GET Baltic.

The average price on the Lithuanian market area was 7% higher than in March and reached 31.73 EUR/MWh. The price of gas increased by 14% and reached 33.24 EUR/MWh in the common market of Latvia and Estonia. In Finland, the price of gas increased by 3%, up to 34.37 EUR/MWh.

In April, almost 2,400 gas purchase and sale transactions were concluded. 642 GWh of gas were traded on the exchange during the last month. Most of the gas – 42% of the total volume of gas was purchased at the Finnish market, 33% – at the common Latvian-Estonian market area and 25% of gas was purchased at the Lithuanian market.

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