Lithuania to face twofold gas price hike, PM says

Lithuanian Prime Minister Ingrida Simonyte has said that the cost of gas in Lithuania will exceed the previous highs by twofold in autumn 2022 and spring 2023.

“Despite it seemed that 100 euros [$100.16] per 1 MW of gas is much, this autumn and next spring gas prices will be increased by twofold,” Delfi reports referring to Simonyte.

Presently, there are several possible scenarios for the developments. Most likely, the gas price will reach 230 euros ($230.37) per MWh this autumn, while 180 euros ($180.29) per MWh from early 2023 and in spring 2023.

She added that about 800 million euros ($801.3 million) should be allocated from the budget to compensate for the increased costs of electricity. However, the final figures will depend on real needs.