Eesti Gaas lowers the gas price for household customers by another third
Eesti Gaas will reduce the price of the flexible package for household customers by 7 percent to 0.64 euros/m3 in June, and by an additional 28 percent to 0.46 euros/m3 in July, including VAT.
“The gas market price forecasts for the coming months allow us to significantly lower the gas price for the summer. Over the past six months, we have reduced the price of gas practically every month, compared to the price peak last fall, the price of natural gas for household customers has dropped by 84 percent,” said Margus Kaasik, Chairman of the Board of Eesti Gaas.
“The world market price of gas is back on May 2021 level, the fall has been very fast and consistent. The future depends on the gas storage filling development, winter temperatures and consumption in Asia, but the current European price forecasts show a moderate price increase for the next heating period,” Kaasik said.
From the autumn peak price of 2.85 euros/m3, the price for Eesti Gaas household customers has fallen by more than 84 percent in six months. Larger gas price reductions took place in December of last year and in February of this year, when Eesti Gaas reduced the price of natural gas by 35 and 50 percent, respectively.
Eesti Gaas offers its customers natural gas in the form of pipeline gas, compressed natural gas (CNG) and liquefied natural gas (LNG) and operates the largest gas network in Estonia. The company is actively engaged in international energy trade and develops a renewable energy portfolio in the form of solar energy and biomethane production and sales.
Eesti Gaas operates in Finland, Latvia, Lithuania and Poland under the Elenger brand. The group has a total of 50,000 customers. Since 2016, when the company was acquired by Infortar, one of the largest investment companies in Estonia, Eesti Gaas has grown into the largest private energy company in the Finland-Baltic region, more than 70 percent of the company’s sales are generated on foreign markets.