Gas market: price of natural gas imported from EU countries hits a record in Q1 2022
In the first quarter of 2022, the average price of natural gas purchased in EU countries exceeded PLN 439.26/MWh and was more than five times higher than a year earlier.
Foreign contracts influence the prices of gas on the Polish wholesale market, and these are, in turn, reflected in end consumer prices in our country. We wrote about the rising gas sourcing costs and the resulting increase in tariff prices for consumers of both low- and high-methane gas already in October last year.
As the graphs below show, there has been a clear upward trend in the price of imported gas on the wholesale market. The gas price for the first quarter of 2022 is over 5 times higher than in the corresponding quarter of 2021.
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In each quarter, the President of the Energy Regulatory Office presents a report[1] on average purchase prices of natural gas imported from the Member States of the European Union or Member States of the European Free Trade Agreement (EFTA) – parties to the Agreement on the European Economic Area.
The calculations are based on prices under actual contract deliveries.
Average purchase prices for natural gas in previous quarters can be found in the Prices & Indices section on the URE website.