Gazprom wholesale gas prices up 1.9% Oct 1
MOSCOW. Oct 1 (Interfax) - Wholesale prices for Gazprom gas for industrial consumers rose 1.9% effective October 1 compared to prices in effect since August 1.
"Calculations of wholesale gas prices for the fourth quarter of 2013 conducted according to the provision for determining the gas price formula showed that their level increased by 1.9% compared to the price level of August-September 2013. However, on average for 2013 wholesale gas prices will correspond to the parameters of the forecast for Russia's social and economic development for 2013 approved by the government," materials from the Federal Tariff Service, which drafted the decision, state.
"Wholesale prices for industrial consumers are calculated according to a price formula that includes the ruble's exchange rate against the dollar and prices for fuel oil and gasoil on European markets. A change in input data in the price formula leads to a change in the wholesale gas price for industrial consumers," the regulator told Interfax, explaining the price change.
The minimum and maximum wholesale gas prices for industrial consumers therefore also had to be recalculated for the fourth quarter.
However, in the first quarter of 2014 wholesale gas prices are expected to drop back down to the level seen in August-September 2013, the regulator said in a note attached to the draft decision.
The regulator prices will be reduced in January to bring wholesale gas prices in line with the social and economic development forecast for 2014.