In its quarterly gas market report, the Commission also points to higher demand and a decline in its own production. Spot prices on European hubs (gas trading hubs) in the first quarter of this year were on average 25-30% higher than a quarter earlier. On an annual basis, however, they were 70-100% higher than at the beginning of 2020.
On average, EUR 18-20 per MWh (megawatt-hour) were paid at the spot. On an annual basis, prices for households increased by an average of 9% in Q1. LNG imports to the EU amounted to 17 billion cubic metres, with the United States being the largest supplier.
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