According to Amac News: Based on the European Commission report, electricity demand in the EU experienced moderate growth during the period, while gas demand continued to decline.
This was attributed to measures that increased flexibility, improved integration between EU member states and accelerated the deployment of renewable energy sources.
According to the European Commission, wholesale gas prices increased slightly in the early third quarter, but resumed their downward trend in September.
Retail prices, although down compared to last year, increased slightly compared to the previous quarter.
The price gap between European gas hubs and Asian markets widened, attracting more liquefied natural gas (LNG) shipments to Asia. This change led to a decrease in LNG imports and an increase in the share of pipeline gas in the EU import mix in the quarter, with almost half of these imports coming from Norway.
Wholesale and retail electricity prices also fell compared to the previous year. The average European electricity price index fell to €78 per megawatt hour (MWh) in the third quarter of 2024, representing an 8% decrease compared to the previous year.
Retail electricity prices for households in EU capitals also fell by 6% compared to the previous year, to an average of €241 per MWh.