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Economy 2020-08-11T04:02:57+03:00
Ukrainian news
Spot Price Of Gas At Netherlands TTF Gas Hub Decreases By 8.4% To EUR 46.7 Per 1,000 Cubic Meters On July 10-1

Spot Price Of Gas At Netherlands TTF Gas Hub Decreases By 8.4% To EUR 46.7 Per 1,000 Cubic Meters On July 10-17

Netherlands, gas, gas price, TTF

On July 10-17, the spot price of gas at the Netherlands TTF gas hub fell by 8.4% or EUR 4.30 per 1,000 cubic meters to EUR 46.69 per 1,000 cubic meters.

This is evidenced by the results of trading on the Powernext/EEX exchange, Ukrainian News Agency reports.

According to the results, on July 10, the spot price of gas started to decrease and on July 11 decreased to EUR 49.31 per 1,000 cubic meters.

At the same time, on July 13, the price increased to EUR 49.49 per 1,000 cubic meters, however, on July 14, the price began to decline again and on July 15 reached EUR 44.28 per 1,000 cubic meters.

In turn, on July 16, the price increased to EUR 49.78 per 1,000 cubic meters, while on July 17 it dropped to EUR 46.69 per 1,000 cubic meters.

In hryvnia equivalent, on July 10-17, the spot gas price decreased by 6.6% or UAH 103.6 per 1,000 cubic meters to UAH 1,453 per 1,000 cubic meters (according to the NBU rate as of July 17).

As Ukrainian News Agency earlier reported, on July 3-10, the spot price of gas at the Netherlands TTF gas hub fell by 3.6% or EUR 1.91 per 1,000 cubic meters to EUR 50.99 per 1,000 cubic meters.

The Naftogaz of Ukraine national energy company lowered the price of natural gas for households under the terms of its public service obligation (PSO) by UAH 133.44 or 5.9% to UAH 2,142.28 per thousand cubic meters (excluding VAT, gas suppliers’ margins, and the cost of gas transportation via mainline and distribution pipelines) in June, compared with May.

Earlier, the Cabinet of Ministers limited the selling price of natural gas for households and heating companies under PSO terms to the arithmetic average of the price at the TTF gas hub in the Netherlands.

Starting January 1, 2020, Naftogaz 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.

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