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Economy 2020-08-11T04:02:40+03:00
Ukrainian news
Naftogaz Raises Gas Price For Population Under PSO Conditions By 7.2% To UAH 2,297 Per Thousand Cubic Meters F

Naftogaz Raises Gas Price For Population Under PSO Conditions By 7.2% To UAH 2,297 Per Thousand Cubic Meters For July

gas, Naftogaz, gas price, gas price for population

The Naftogaz of Ukraine national joint-stock company has raised the July price for natural gas for the population under the public service obligation (PSO) conditions by 7.2% or UAH 155 per thousand cubic meters to 2,297.53 per thousand cubic meters (less VAT; extra charges for gas transportation and distribution gas pipelines) over June.

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

“World gas prices traditionally fall during periods of low demand and rise in anticipation of the heating season. And, despite the coronavirus, economic crisis and reduced demand, 2020 was no exception to this seasonal rule. However, the price is still record low in comparison with previous periods, and we can already assume today that in the second half of the year, at the height of the heating season, the cost of gas will still be lower than in 2019. According to preliminary calculations, it will be 20, or even 30%,” said Naftogaz board chairman Andrii Kobolev.

The company noted that prices at major European gas hubs began to rise in the last decade of June and early July, reaching their highest values ​​since mid-May.

In turn, the constraining factors for Ukrainian gas prices are significant gas reserves in domestic storage facilities and a record gap between supply and demand.

As Ukrainian News Agency earlier reported, Naftogaz 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.

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.

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