Another round of gas price hikes awaits in July in Latvia

Natural gas tariffs for households will increase yet again from July 1, 2022, by anywhere between 65.6% to 89.9%, according to the statement in the official publication Latvijas Vēstnesis on June 10.

For households consuming up to 250 cubic meters of natural gas per year, the differentiated final trade rate with value-added tax (VAT) and excise duty will increase by 65.6% for the second half of 2022, from EUR 1.10209 per cubic meter to EUR 1.8252 per cubic meter.

For households consuming between 250 and 500 cubic meters of natural gas, the final tariff will rise by 74.7% - from €0.96649 per cubic meter to €1.6896 per cubic meter.

At the same time, for households consuming between 500 and 25.000 cubic meters of natural gas a year, the final tariff will rise by 89.9% - from €0.80405 per cubic meter to €1.52715 per cubic meter.

The fixed part of the payment for natural gas will remain unchanged during the second half of this year.

 Latvijas gāze board chairman Aigars Kalvītis told LETA that the cheap natural gas that had been bought in has been used up, and now it has to be purchased at the actual prices.

The total payment of natural gas to households consists of five components: the price of natural gas, which is influenced by fluctuations in the price of the resource on the world markets and calculated according to the methodology approved by the public services regulator (SPRK), the charge for transmission services calculated and agreed by AS “Conexus Baltic Grid”, the distribution operator's services, as well as the excise and value-added tax governed by the State.

For natural-gas users with annual consumption of up to 25,000 cubic meters, tariffs change twice a year - January 1 and July 1.

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