Alexela cutting natural gas prices to domestic customers from next month
Fuel retailer Alexela is cutting its natural gas price to domestic consumers to €0.63 per cubic meter next month, from the current level of €0.79. The move follows a price reduction from Eesti Gaas announced in late April.
Alexela's energy portfolio manager Kalvi Nõu said of the move that: "World [natural gas] market prices have continued to fall, while the somewhat high occupancy at gas storage facilities has also contributed to the drop."
While the €0.63 per cubic meter price level comes into effect in June, Alexela is also imposing a price cut to €0.68 per cubic meter retroactively for April.
Prices are inclusive of VAT and apply to domestic consumers on a variable rate package.
"The combined effect of these factors gave us the opportunity to cut the price of domestic gas for customers retroactively from April to allow them to save on their monthly energy costs," Nõu continued.
April's price had been €0.79 per cubic meter hitherto.
"Currently, it seems to strike a positive note that a more favorable price level could remain for the near future," Nõu added.
Esti Gaas announced late last month that it is set to lower prices for residential customers to €0.64 per cubic meter including VAT in a new flexible package, from June, down from €0.69 for May, citing the fall in global gas prices to pre-Ukraine war levels and substantial deliveries of Liquefied Natural Gas (LNG).
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Editor: Andrew Whyte