Elenger, a prominent energy supplier in Estonia, announced that it will be raising the price of natural gas for its flexible package residential customers from €0.52 to €0.598 per cubic meter, effective from March. This move comes despite a recent decline in global gas prices, where prices have notably decreased 4.5% on the Dutch exchange (TTF) as of Monday morning. Over the past week, prices have dropped by 7%, and by 12% over the month, with the current price at TTF reaching €31 per megawatt-hour.

While Elenger's price hike appears to counter the market trend of falling gas prices, it is worth noting that the current price in Estonia remains lower than it was a year ago. Last January, Elenger's price for gas was €0.69 per cubic meter, which had escalated to €0.78 by March of the previous year. This context of fluctuating gas prices may lead consumers to scrutinize their energy costs further, especially in light of the broader economic conditions and past increases seen in the market.

Additionally, another major gas supplier in Estonia, Alexela, shows a lower price of €0.515 per cubic meter on its website for February, raising questions about competitive pricing strategies among local suppliers. As consumers adjust their budgets amidst the variances in pricing, the implications of these changes in gas prices are likely to influence household energy choices and overall market dynamics in Estonia.