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Gas price 2024: How much is an American and Russian cubic (m3, kWh)?

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You can tell a trusted partner from a fake friend by whether they help you in times of need or prey on your weaknesses. Russian state company Gazprom contracted to supply natural gas to its Czech, German, French, Polish and other customers. The advertised price looked attractive, so we put aside other alternatives. We relied on cheap Russian gas, which was a mistake.

The counterparty betrayed our trust and illegally stopped deliveries in 2022. Russian federation meanwhile she attacked the Ukraine and she apparently hoped that we would sacrifice the invaded country for cheap fuel. Natural gas became more expensive, but the democratic states did not succumb to the pressure. The Czech government introduced price ceilings in 2023, which it financed from the state budget. European Union supports Ukraine and quickly found new natural gas suppliers.

Exchanges fell below €40/MWh

Now we take gas that comes from Norway, Qatar, USA, Nigeria and other countries. Gas reservoirs were full before the heating season, which is why the wholesale exchanges calmed down. At the height of the energy crisis, the price of a megawatt-hour (MWh) of natural gas rose to over €200but now it has become cheaper under €40. Russia used to have less than €20/MWh, but the actual price was higher. In effect, subscribers were unknowingly funding the aggressor, thus risking their own safety.

Russian fuel became more expensive

Gazprom continues to supply natural gas to Hungary, Austria and Slovakia. The price has probably risen to the current market level. For example, the average Austrian household paid 156 euros/MWh in the first half of last year, while 113.80 euros/MWh was enough for a typical Czech family. Retail the price was therefore 27% lower in the country than in Austriaeven though our southern neighbors take Russian gas.

Hungary remains the cheapest, where the average household pays €33.70/MWh. However, the Hungarian government heavily subsidizes retail prices. At the same time, it shows a significantly higher state debt than its Czech counterpart: 75.5% of GDP compared to the domestic 45.2% of GDP. Before the last heating season, the Hungarians admitted to Gazprom that they had no money to pay and asked for an installment plan.

Gas price 2024 (kWh, m3)

Let’s return to the Czech Republic, where the New Year began with fundamental changes. The government canceled the price ceilings, which were based on an average of 3,729 CZK/MWh. Large-scale subsidies are no longer needed, because natural gas has become significantly cheaper!

Let’s compare the prices charged by final Czech suppliers (dealers) this year. In doing so, we will visit a household that consumes 10 megawatt hours (MWh) or 10,000 kilowatt hours (kWh) of natural gas. The exact spend depends on her home region and selected reseller. Average gas price 2024 = 3,123 CZK/MWh = 33.76 CZK/m3 = 3.123 CZK/kWh.

We compare the price lists that leading Czech suppliers offer to households for an indefinite period – Armex Energy (Start 401), Centropol Energy (No obligation online to start), ČEZ Prodej (Gas for an indefinite period), E.ON Energie (Standard gas), EP Energy Trading (No obligation), eYello CZ (Yello Joule with electronic invoice), Fonergy (Premium 2024), MND Energie (Price list Jaro 26 Online), innogy Energie (Standard), Pražská energetika (PRE Plyn Nefix), Pražská plynárenská (Standard) , První česká energie (No obligation2), SPP CZ (ENRA ePLYN), Vemex Energie (Flexi). We average prices in the distribution regions of GasNet (most of the Czech Republic), Pražská plynárenská Distribuce (Prague) and EG.D (southern Bohemia). We add all billing fees and taxes.

Tags: Gas price American Russian cubic kWh

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