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German Gas Storage Neutrality Charge Rises to €2.50/MWh in July

NATGAS

The German gas storage neutrality charge in place to recover money spent purchasing strategic gas reserves will rise to €2.50/MWh from 1 July 2024, according to a statement from Trading Hub Europe. The change is due to low winter prices as well as a decline in end user consumption and transit volumes.

  • The levy, implemented in Oct 2022 increased from €1.45/MWh in H2-23 to €1.86/MWh over H1-24. Earlier this year, the end date was extended from Dec 2024 to March 2027.
  • “As prices fell more sharply than expected in the winter of 2023/2024, THE's income from the sale of gas quantities in the period in question was lower than forecast,” the statement said.
  • The 50TWh of gas purchased by THE at an average price of approximately €175/MWh have now been sold in full at an average of around €48.50/MWh.
  • The next gas storage neutrality charge adjustment will be from 1 January 2025.
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