Published
The high gas prices are attracting US exporters. Due to the larger supply, prices drop suddenly on the wholesale markets. It will take some time before Swiss households notice anything.
This is where they get most of the money for their gas.
REUTERS
The liquid gas also comes to Switzerland via detours. However, customers are unlikely to notice the price reduction until later.
Reuters
Gas prices are at an all-time high.
Now US exporters no longer deliver their gas to Asia.
The prices on the wholesale markets drop abruptly.
The prices for gas on the international markets are higher than ever. This year the gas price rose by 700 percent. Despite the high prices, gas suppliers can’t wait. You have to buy because the fill levels in European gas storage facilities are at an all-time low.
A fleet of US tankers that is heading for Europe is now promising a remedy. At least ten tankers with liquefied gas are on the way, according to information from the Bloomberg news agency. Most recently, American exporters mainly delivered their gas to Asia. But the way to Europe is shorter for the US tankers and meanwhile the Europeans also pay significantly higher prices, like that “World” writes.
Another 20 ships are crossing the Atlantic, but have not yet announced a destination. They are likely to sell the liquefied gas in the region of the world where there is the most money for it and that is currently Europe.
Swiss customers are not yet benefiting
The reason for the US deliveries is therefore likely to be primarily a financial one and less a broadside of the US government against Russia. It is true that European and US politicians repeatedly accuse Russia’s gas giant Gazprom of deliberately keeping gas supplies tight. The energy company always kept its agreements.
The almost 5 million cubic meters of liquid gas in the ships would cover a third of the needs of Europe’s largest gas consumer, Germany, in one winter month. The markets reacted correspondingly positively. On the wholesale market, gas prices plummeted by ten percent.
Swiss customers will also benefit from the lower wholesale gas prices with a delay. Switzerland sources its gas mainly from Germany, the Netherlands and France. In this way, the liquefied gas also reaches Switzerland.
If more gas comes onto the market, this has a positive effect on end customer prices. However, these do not change daily, but react to wholesale prices with a delay, says a spokesman for the Association of the Swiss Gas Industry to 20 minutes. How gas prices develop in the coming weeks also depends on how cold the winter will be.
Energie Wasser Luzern (EWL) will increase the gas price again from January 1, 2022. Because the procurement costs are so high on the international markets, the gas price will be increased by 1.10 cents per kilowatt hour, writes the energy provider in a message. This means that a family with a single-family house and an annual consumption of 20,000 kilowatt hours will pay 18 francs more per month for the gas. EWL already increased the gas price by 2.80 cents at the beginning of December.
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