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Economy 2020-03-20T04:03:23+02:00
Ukrainian news
Naftogaz Cuts Gas Price For Population Under PSO By 15% To UAH 3,950 Per 1,000 Cubic Meters For February

Naftogaz Cuts Gas Price For Population Under PSO By 15% To UAH 3,950 Per 1,000 Cubic Meters For February

gas, Naftogaz, natural gas, gas price

The Naftogaz of Ukraine national joint-stock company has decreased the price of natural gas for the population on public service obligation (PSO) by 15% or UAH 700 to UAH 3,950 per 1,000 cubic meters (without VAT, extra charges of regional gas distributors, and cost of transportation) for February, in comparison with the price previously set for January 2020.

Naftogaz said this in a statement, Ukrainian News Agency reports.

"In February 2020, the wholesale price of gas for the needs of the population, heat producers for the population and other protected consumers to whom Naftogaz supplies gas under PSO will amount to UAH 3,950 per 1,000 cubic meters," reads the statement.

It is noted that this price is 37% lower than in February 2019, and this is the lowest wholesale price of Naftogaz for the population since April 2016.

As Ukrainian News Agency earlier reported, on January 24, the Cabinet of Ministers of Ukraine limited the price of gas for household consumers and heat producers under the public service obligation (PSO) with the arithmetic mean value of the price at the Dutch gas hub (TTF).

Starting January 1, 2020, the Naftogaz of Ukraine national joint-stock company sells/delivers gas under the PSO at the prices set by the seller (supplier) and buyer (consumer), but not higher the level that includes arithmetic mean value of prices (End of Day) of gas Day-Ahead and Weekend) at the Dutch hub (TTF) for the period between 1-22 of the month the gas is supplied in compliance with the information provided by the Powernext/EEX, the difference (spread) between the price at the TTF hub and the border of Ukraine and the tariff for gas transportation services for the entry point in Ukraine at the interstate connection with Poland/Slovakia/Hungary.

Late in November, the Cabinet of Ministers of Ukraine amended the provision on public service obligation (PSO) for introduction of a fixed insured price for gas at UAH 6,961 per thousand cubic meters (VAT inclusive, less transportation) for household consumers and heat producers from January 1, 2020 to April 30, 2020.

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