ACER: Gas Wholesale Market Monitoring Report Points To Market Expectations Of High Gas Prices Until 2024

The EU Agency for the Cooperation of Energy Regulators (ACER) and the Council of European Energy Regulators (CEER) publish today the Gas Wholesale Volume of the Market Monitoring Report (MMR).

What is the Gas MMR 2021 about?

The Gas Wholesale Volume of the annual Market Monitoring Report provides an overview of the current state of the EU gas markets.

This edition looks at:

gas market developments and the drivers of the unprecedented gas price rise,
the level of competition and gas market functioning using mainly the metrics in the ACER Gas Target Model.

Some main findings:

1. Record high EU LNG imports (mostly from the US), falling gas demand are (so far) offsetting the lower Russian pipeline flows in 2022.

2. Markets expect gas prices to remain high in the coming months driven by concerns regarding supply.

The 2021 Gas MMR has a set of recommendations:

to speed up a single Internal Gas Market in Europe,
to secure gas supplies for Winter 2022 and hedge price exposure amid the challenging market circumstances.