When compared to the week prior, the price of natural gas in TTF trading point went up by 4.3%, reaching 29.49 EUR/MWh, as reported by Latvian Ministry of Climate and Energy.
The ministry also notes that last week the price of natural gas in TTF was equal to the price observed in June 2021.
The price of wood chips, meanwhile, continued going down – last week it was 22.67 EUR/MWh, which is a drop of 6.7%.
The ministry adds that the price of wood chips remains significantly below the average price of wood chips procured for 2022/2023 heating season, which was 42.5 EUR/MWh.
At the same time, the ministry says that although the price of wood chips in Lithuania and Estonia is slightly lower than the price in Latvia, the price in all Baltic States is competitive. The price in Estonia went up by 2.2% last week, reaching 21.08 EUR/MWh. The price in Lithuania went down by 3% – to 21.42 EUR/MWh.
The ministry also reports that the Inčukalns underground gas storage facility is 58.8% full – approximately 13.3 TWh of gas is stored therein.
Gas consumption, according to the ministry, was 294 198 MWh in Latvia last week. This is 22% lower when compared to a week prior. 98 654 MWh of gas was supplied from Inčukalns facility to Estonian gas users.
Minister of Climate and Energy Kaspars Melnis notes that demand for gas in Latvia may go up next week due to weather conditions.
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Natural gas price up significantly on the exchange
