Wholesale gas price for population and other consumers decreases by 15%

Source : 112 Ukraine

The gas price in February 2020 will be the lowest since April 2016
19:25, 24 February 2020

Open source

In February 2020, the wholesale price of natural gas for the needs of the population, heat producers and other consumers will amount to 161,5 dollars per one thousand cubic meters. which is 15% less than in January 2019. This was reported by the press service of NJSC Naftogaz-Ukraine.

It is also stated that the new price will be 37% lower than in February 2019, and, accordingly, this will be the lowest wholesale price for the population since April 2016.

Naftogaz noted that the new price was calculated in accordance with a governmental decree and reflected market trends in reducing energy costs, which had been demonstrated by key European energy exchanges.

Related: Ukraine’s gas storages may interest four European countries

The government-approved approach to calculating gas prices for consumers is expected to be in place by April 30, 2020.

Naftogaz also specified that the price could fluctuate both in the direction of decrease and increase during this period, depending on the market situation, the balance of supply and demand, as well as weather conditions.

As we reported earlier, Andriy Kobolev, Chairman of Naftogaz-Ukraine's Board stated that the company was ready to discuss the extension of the contract on gas transit with the Russian Federation.

"We are ready to discuss the extension of the contract. We are also ready for this contract to be considered by a new independent unbundled operator. In order to do this, Ukraine needs to complete the implementation of European legislation governing the Ukrainian gas market. And then the conditions for the extension may be better than the conditions that are currently in force. For Ukraine," he stated.

Related: Why Ukraine's gas production is declining and not going to grow?

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