Russian govt approves indexation of 2025 wholesale gas prices at 10.3%, energy prices at 21.3%

MOSCOW. Dec 13 (Interfax) - The Russian government has approved indexation of regulated wholesale gas prices from July 1, 2025 at 10.3% for all categories of consumers apart from electricity companies and the housing and utilities sector.

The corresponding resolution was published on the portal of official information on Thursday.

This indexation of regulated gas prices was previously included in the macroeconomic forecast for 2025-2027.

At the same time, the level of tariff indexation for gas supplied to power companies and the housing and utilities sector will be aligned with the tariff growth for other industrial sectors through an additional 11.0% increase on July 1, 2025, bringing the total rise to 21.3%. Previously, gas prices for industries other than energy companies were indexed at 10% in December 2023. In mid-2024, the indexation was uniform for both industries and power companies at 11.2%, meaning that the difference in indexation was not resolved.

The introduction of a third regulated gas price category for power companies previously had a significant negative impact on the liquidity of gas trading on exchanges. A separate consumer category implies the payment of a specific mineral extraction tax (MET), which cannot be differentiated under conditions of anonymity in exchange trading. As a result, Gazprom almost entirely ceased participating in gas trading on the St. Petersburg International Mercantile Exchange.

The government resolution also establishes the indexation of tariffs for gas transportation services through gas distribution networks for gas distribution organizations participating in regional gas infrastructure development programs for industry and utilities. These tariffs will increase by 11.3% from July 1, 2025, by 9.3% from July 2026 and by 9% from July 2027.