Falling Gas Prices Will Be Visible in Months

EnergyOil & Gas ♦ Published: January 3, 2023; 22:57 ♦ (Vindobona)

Since the beginning of December, gas prices have decreased significantly in the European market. Gas prices went relatively low through control of prices and mild winter temperatures. However, the consumer will feel this decrease in several months.

The End Consumers Will Feel the Decreasing Gas Prices in a Few Months, According to E-Control Boss Wolfgang Urbantschitsch / Picture: © RAG Rohöl-Aufsuchungs AG

The wholesale prices for gas, which have recently fallen significantly, will only reach end customers in a few months. E-Control boss Wolfgang Urbantschitsch said that on Tuesday in the O1 morning journal. What customers are now paying for their gas, "these are prices that result from procurement by the energy companies that took place in the past few months," says Urbantschitsch. However, new customers could soon find relief, according to Vienna.at.

According to Kleine Zeitung, the E-Control boss expects the energy companies to recalculate their offers due to the fall in wholesale prices. "I think that in the coming weeks, some companies will come up with new offers that are cheaper than the current offers for new customers," says Urbantschitsch.

Since the beginning of December, the gas price in the European wholesale market has fallen significantly. The main reason for the fall in prices is the comparatively mild winter temperatures curbing consumption, according to Die Presse.