Mar 4 • 03:30 UTC 🇱🇻 Latvia LSM

Suppliers: Gas prices for households in Latvia may rise at the end of the season or in autumn

Gas suppliers in Latvia warn that prices for household gas may increase as the season ends, depending on future gas procurement and market conditions.

Gas suppliers in Latvia are currently in a state of flux as they face uncertainties regarding gas prices for households in the upcoming seasons. Aigars Kalvītis, the chairman of the board for Latvia's gas supply company, stated the situation is evolving rapidly, making accurate predictions for gas prices difficult. He emphasized that the current heating season is nearing its end, with gas being used that was purchased last year. The forthcoming decisions about gas purchases for the upcoming winter will significantly impact household gas bills when the purchasing starts in May.

Guntars Baļčūns, a member of the board at Latvenegro, reassured that there are no immediate concerns about gas shortages in Latvia or Europe, especially now that the colder months have passed. He noted that the storage facilities in Europe are still around 30% full, indicating a satisfactory supply level that should meet current demands. As of now, there are no worries about insufficient gas supply affecting the ongoing heating season.

However, industry leaders like Dāvis Skulte of Elenger are closely monitoring developments in the Middle East, hinting that geopolitical factors might soon cloud the market's visibility. This attention to external conditions underlines the interconnectedness of regional energy supplies and the potential for rapid changes that could unexpectedly influence gas prices. As households prepare for the next winter season, the market will be closely watched for any shifts that could alter current expectations about pricing and availability.

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