Latest EU gas market analysis released
Friday, 9 January, 2015
The European Commission has published new analysis on European gas and electricity markets covering the third quarter of 2014. Here are some key facts from the reports:
Gas
EU consumption fell by 20% in the first half of 2014 compared to the same period in 2013 and gas imports dropped by 9%, largely due to warm weather.
While EU LNG imports were down 7% in the first three quarters of 2014 compared to 2013, two countries saw a pick-up – in the UK LNG imports were up 22% while in Spain LNG volumes were stable after three years of decline.
Spot prices at European gas hubs increased by 10-15% in the third quarter of 2014, however, in September 2014 day-ahead prices were in the range of €20-30/MWh on most hubs – around 30% below levels in the previous year.
Across the EU, retail gas prices for industry fell by 4%, and by 2% for households between the first half of 2013 and the first half of 2014.