26.65 27.05
29.4 29.95
Economy 2020-07-09T04:02:36+03:00
Ukrainian news
Naftogaz Lowers Gas Price For Population Under PSO Conditions By 5.9% To UAH 2,142 Per Thousand Cubic Meters F

Naftogaz Lowers Gas Price For Population Under PSO Conditions By 5.9% To UAH 2,142 Per Thousand Cubic Meters For June

gas, Naftogaz, Naftogaz of Ukraine, price, PSO, gas price for population

The Naftogaz of Ukraine national joint-stock company has lowered the June price for natural gas for the population under the public service obligation (PSO) conditions by 5.9% or UAH 133.44 per thousand cubic meters to 2,142.28 per thousand cubic meters (less VAT; extra charges for gas transportation and distribution gas pipelines) over May.

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

At the same time, the price for the population under PSO including VAT is UAH 2,570.7 per thousand cubic meters.

In turn, analysts of Naftogaz note that the pace of prices fall has slowed down and it was in June that the trend began to recover in energy prices: prices on major European hubs have been rising since the second week of June both for the current month and for future periods.

Among the main factors of price recovery are the cancellation of a significant part of the supply of liquefied gas to Europe in June and July, the increase in industrial production after the quarantine was lifted, and the transition of European thermal generation stations to gas instead of coal.

"At the same time, domestic prices in Ukraine remain below import parity. According to company analysts, weak gas demand in the world and high gas reserves in Europe continue to put pressure on prices in key gas markets. It is assumed that the level of reserves in underground gas storages by the end of the season (underground gas storages) will approach its maximum. This will help to suspend any gas injection initiatives and, taking into account insignificant demand, will lead to lower prices. Changes in price trends are possible closer to the heating season," Naftogaz emphasized.

As Ukrainian News Agency earlier reported, the Naftogaz of Ukraine national joint-stock company has lowered the April price for natural gas for the population under the public service obligation (PSO) conditions by 14.8% or UAH 503 per thousand cubic meters to 2,897 per thousand cubic meters (less VAT; extra charges for gas transportation and distribution gas pipelines) over March.

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.


News

ok