Price of natural gas fell to 18-month low

The price of natural gas on the Prague commodity exchange fell to an 18-month low due to the mild winter, surplus of gas in the EU and growing imports of liquified gas. Last October, the price peaked at €29 per MWh but last week it stood at €18.4. Gas consumption in Slovakia fell 2% last year. The price for households is unlikely to fall, though, as the regulator ÚRSO is likely to help the dominant gas supplier, state-owned SPP. The gas utility lost €408m over the past four years due to bad management and failed speculation on the gas market.

(HN/1)