ACER monitors and reports annually on the EU (internal) market natural gas (in their so-called Market Monitoring Reports (MMRs)).
The key developments publication provides an initial assessment of key developments in European wholesale gas markets over the recent months.
What are the key findings?
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- Wholesale gas prices reached record-high levels in 2022.
- Since the end of 2022, the demand-supply balance in the gas market has improved due to a combination of rising liquified natural gas (LNG) imports and a decrease in demand.
- This improved balance has ensured a reduction in gas prices, which are now approaching pre-crisis levels. However, supply is overall still tight, exposing prices to unexpected developments. China’s LNG demand remains an important factor for EU gas prices going forward.
- Gas trading activity has increased in recent weeks due to more favourable prices and reduced margin requirements.
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ACER