JSC “Latvijas Gāze” statement on the natural gas price for households as of May 1
The natural gas price for households that continue as customers of the JSC “Latvijas Gāze” will decrease by 37% if using natural gas for cooking and by 24% if using natural gas for heating.
The universal service envisages a fixed natural gas price for 6 months, protecting from price fluctuations at the exchange, providing security, and easing the planning of expenses.
As of May 1, the natural gas price for customers of the JSC “Latvijas Gāze” will be as follows:
- for heating – 0.05985 euros/kWh (the natural gas price including excise* and 21% VAT – 0.07442 euros/kWh);
- for cooking – 0.08312 euros/kWh (the natural gas price including excise* and 21% VAT – 0.10257 euros/kWh).
For instance, a household that uses natural gas for cooking and consumes 4 m3 per month will pay a monthly bill of approximately 9.58 euros instead of the current 12.10 euros, saving around 15 euros in 6 months. A household that uses natural gas for heating and consumes 180 m3 per month will, in turn, pay a monthly bill of approximately 170.05 euros instead of the current 213.42 euros, saving 43.37 euros in 1 month and 260.22 euros in 6 months.
If staying with Latvijas Gāze, customers do not need to re-sign a contract, the transition to the universal service will take place automatically.
Customers will be individually notified of the market opening and natural gas prices via announcements along with billing documents in April and May.
JSC “Latvijas Gāze”
Board
On the JSC “Latvijas Gāze”
Latvijas Gāze is one of the leaders of the Baltic energy industry.
Our goal is to consolidate the leading position of the Latvijas Gāze Group in the Latvian and Baltic energy market by becoming the customers’ first choice among natural gas suppliers and providing the most reliable natural gas supply for the entire region.
The wholesale and sale of natural gas to business customers is carried out in Latvia, Lithuania and Estonia. Following the opening of the Finnish gas market on January 1, 2020, Latvijas Gāze has successfully started natural gas trading in Finland as well. In the household segment, Latvijas Gāze is the biggest and most prominent natural gas trader in Latvia.
After Latvia regained its independence in 1991, a joint state-owned company “Latvijas Gāze” was established by merging the Latvian gas infrastructure and institutions. The privatisation of the company was commenced in 1997 and completed in 2002. Since February 15, 1999, the shares of the JSC “Latvijas Gāze” have been quoted on the Nasdaq Riga stock exchange. Taking into account the requirements of the European Union for the establishment of the natural gas market and the expiry of the privatisation agreement between the state and the shareholders of Latvijas Gāze, the unified transmission and storage operator JSC “Conexus Baltic Grid” was separated from Latvijas Gāze in early 2017, followed by the separation of the distribution system operator JSC “Gaso” on December 1, 2017.
Contact information:
Sandra Joksta
investor.relations@lg.lv
phone + 371 67 374 369
