A fall in natural gas exchange prices has prompted market leader Eesti Gaas to reduce a planned price hike due to domestic consumers for the start of October, though to what level has not yet been announced.
The market price of gas on Tuesday as quoted on the Netherlands-based TTF gas futures market stood at €184 euros per MWh, down from prices as high as €330 per MWh early on this month, a fall in part the result of many European countries finding alternatives to Russian natural gas.
Eesti Gaas communications manager Kersti Tumm told ERR Tuesday that: "Yes, the market price of natural gas has been moving downwards, and we intend to correct the October price for domestic customers, as already announced We will make a more specific decision next week,"
Eesti Gaas will thus adjust the price of the home consumer package from October after a rise to €2.65 per cubic meter in September
Eesti Gaas had originally planned a price hike to €4.10 the start of October, which is also the start of heating season (runs to March end).
The government recently effected a regulation, ie. not a piece of legislation which went via the Riigikogu, which will provide support to domestic consumers of natural gas above a price of €80, to the tune of 80 percent. A €184 per MWh price, for instance, would cost €163.20 per MWh (€80+€104*0.8) under the new scheme, though support applies to maximum a consumption of 2.6MWh per household.
Editor: Andrew Whyte