Gas prices to hit three-year low this autumn – Greece, 26 August 2016

According to the Greek Regulatory Authority for Energy (RAE), natural gas import prices between January and March 2016 (ranging from 14.3 to 15.6 euros/MWh) were the lowest registered since April 2013. This period, along with the period covering October-December 2015, when gas prices ranged from 18.6 to 19 euros/MWh, will be used in formula to calculate natural gas prices for the coming autumn, which are expected to be the lowest in the last three-year period.
Last week, Hellenic Petroluem, which holds a 35 % stake in Greek Public Gas Corporation (DEPA), reported a significant increase in domestic natural gas demand, which was increased by 46 % in the first half of the year and 82 % in the second quarter of 2016. The rise is due to increased natural gas orders by electricity producers. DEPA’s gas sales in the first half of 2016 reached 1.771 billion Nm3, compared to 1,217 billion Nm3 in the same period last year.

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