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BNS – A new price agreement between the Estonian natural gas importer and distributor Eesti Gaas and Russia's Gazprom enables Eesti Gaas to lower the price of gas sold to large consumers by nearly 10 percent next year.
The new pricing formula offered by the company to customers means about 10 percent more advantageous prices, board member Raul Kotov told BNS.
In accordance with the purchase conditions agreed with Gazprom, the new pricing formula uses coefficients that result in a lower price level, he said.
The six-month average price of fuel oil that served as the basis of the formula so far will be replaced with the average of nine months, Kotov added. "The switch to nine months gives us a pricing formula similar to Germany's. The difference in prices so far caused confusion," he said.
Kotov was reluctant to disclose the price of natural gas saying the agreement with Gazprom was confidential. He added however that the price next year would be on the level of European exchange prices.
Under the 2011 purchase conditions agreement between Eesti Gaas and Gazprom the price of natural gas sold to households will decline by an average 11 percent in January.
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