Energy, Gas, Gas Market , Latvia

According to SPRK data, in the past quarter there was a moderate rise in natural gas prices, but the price was still low.

Such changes are related with the warm autumn and winter weather conditions when demand for heating gas was lower. Also, hydro power was used more than gas for production of electricity.

At the end of last year, the price of natural gas in wholesale market was EUR 17.15 per MWh. At the same time, price for households declined to EUR 20.33 per MWh, which is the lowest price in the past two years, while price for industrial customers was EUR 21.64 per MWh.

As the natural gas price remains low, demand for use of the Incukalns storage facility increased last year. The amount of natural gas stored in the facility reached its maximum or 74% in October. The natural gas volume did not drop significantly by the end of 2019.