The sharp drop in natural gas prices seen in European markets this month may not reach Estonian household consumers until February, retailers say.
On the other hand, prices may rise again if, for instance, the winter turns significantly colder.
Alexela energy portfolio manager Kalvi Nõu said that the main reason for the fall in gas prices is a rise in liquefied natural gas (LNG) production and supply, especially in the U.S.
“There is so much more of an LNG supply on the global market. There is no longer that panic that there won’t be enough LNG for Europe and Asia. Competition for LNG has eased,” Nõu said.
While prices to Estonian consumers have fallen significantly over the year, the decline has not kept pace with the drop seen on the European market.
Read more: ERR.EE
