Are Denmark's gas prices returning to pre-energy crisis level?
Since energy prices peaked in autumn 2022, the cost of gas has fallen in Denmark. Has it returned to previous levels?
The average price of gas fell by 44.7 percent for households in Denmark in the second half of 2023, according to data released by the Danish Energy Agency this week.
This means that gas customers in the country paid an average of 3.55 kroner per cubic Nm less for gas in the second half of 2023 than they did in the first half of the year.
The gas price for private (as well as business) customers during the period fell by more than the spot or market price of the commodity, the Agency notes. The spot price on the Danish market fell by 7.4 percent.
This is because the price paid by customers was higher than the spot price. It remained higher despite dropping in price by a greater percentage.
On average, households paid 1.01 kroner per cubic Nm more than the gas spot price.
Despite a significant drop in 2023, the price of gas has not returned to pre-energy crisis levels.
A table published by the Energy agency shows the price paid by private gas customers in each six-month period since 2020. The table is further broken down into three bands based on consumption levels.
The price paid for gas per unit for three consumption bands (D1, D2, D3) for each half-year period since 2020. Graphic: Danish Energy Agency press release
For each of the three consumption categories, the price paid for gas can be seen rising from the beginning of 2021 and hitting a very high level in the second half of 2022.
Following the steep drop of price seen in the second half of last year, gas customers in each of the three bands are now paying slightly less per unit than they were in late 2021 (as of H2 in 2023).
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The average price of gas fell by 44.7 percent for households in Denmark in the second half of 2023, according to data released by the Danish Energy Agency this week.
This means that gas customers in the country paid an average of 3.55 kroner per cubic Nm less for gas in the second half of 2023 than they did in the first half of the year.
The gas price for private (as well as business) customers during the period fell by more than the spot or market price of the commodity, the Agency notes. The spot price on the Danish market fell by 7.4 percent.
This is because the price paid by customers was higher than the spot price. It remained higher despite dropping in price by a greater percentage.
On average, households paid 1.01 kroner per cubic Nm more than the gas spot price.
Despite a significant drop in 2023, the price of gas has not returned to pre-energy crisis levels.
A table published by the Energy agency shows the price paid by private gas customers in each six-month period since 2020. The table is further broken down into three bands based on consumption levels.
For each of the three consumption categories, the price paid for gas can be seen rising from the beginning of 2021 and hitting a very high level in the second half of 2022.
Following the steep drop of price seen in the second half of last year, gas customers in each of the three bands are now paying slightly less per unit than they were in late 2021 (as of H2 in 2023).
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