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A significant decrease of 23% was noted in the price of natural gas for household consumers in Athens in February according to the monthly survey HEPI (Household Energy Price Index for Europe) which is prepared by the regulatory authorities of Austria and Hungary and the company VaasaETT and examines the evolution of the price of natural gas in the capitals of Europe.

The survey finds that households in Athena enjoyed significantly lower gas bills this month due to the drop in the wholesale price of gas and despite the end of the discount provided by DEPA to consumers.

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Thus, the retail price of natural gas for domestic consumers including taxes and fees in Athens in February was 10.88 cents/KWh, i.e. much lower than the average price in the 27 EU countries which was 13.11 cents/KWh and from the average price in all the capitals of Europe which was 12.55 cents/KWh.

The highest price was paid by its inhabitants Stockholm where in fact it is twice the average European price and stands at 30.07 cents/KWh. This is attributed to the small size of the Swedish market, i.e. only 92,000 residential gas customers in the whole of Sweden, of which 58,000 are on the isolated Stockholm gas network.

The most significant changes in the natural gas market in February were a 2% price increase in Dublin, while all other capitals saw either a decrease or stable prices.

Specifically, a decrease of 33% occurred on Brusselsby 31% in Copenhagenby 23% in Athena and the Sophiaby 22% in Romeby 13% at Tallinnby 12% in Viennaby 7% at Berlinby 4% at Parisand by 2% in Madrid and the Stripe.

It is noted that the prices of natural gas for domestic consumers continued the significantly downward trend that began in September. In fact, Brussels and Copenhagen returned to 2021 fee levels, while Athens, Rome and Sofia also saw significant reductions in their gas bills.

In addition, for the majority of capital cities, retail gas prices remained stable.

The general decline in prices is mainly due to the continued decline in wholesale prices, which is attributed to the significant reduction in demand brought about by the favorable weather conditions.

The drop in demand can also be seen as its successful outcome savings energy due to EU measures.

Other reasons for the drop are the increase in supply, mainly in the form of LNG, but also extensive measures by governments to support consumers. It should be noted, however, that despite the recent decline, natural gas prices are still higher than they were before the crisis began. This reflects the general trend, due to supply shortages, and continued growth in international LNG demand, but also the ongoing fear of supply cuts.