Top Estonian gas suppliers to hike prices sharply

Estonia’s largest gas suppliers, Elenger and Alexela, will raise natural gas prices for household consumers in variable-price packages by more than a third starting in May.

Elenger will increase its tariff from €0.598 per cubic meter to €0.795 per cubic meter from May 1. Alexela’s flexible-price package will rise even more sharply, from €0.55 per cubic meter in April to €0.82 per cubic meter in May, Caliber.Az reports per foreign media.

Elenger CEO Margus Kaasik noted that their flexible household package remained unchanged in March and April despite a 65% surge in market gas prices triggered by the escalation of the Iran conflict. He said the market price increase will be reflected in May’s consumer prices.

Alexela energy trading portfolio manager Kalvi Nõu confirmed that May prices rose due to market conditions at the end of April. He added that although gas prices temporarily fell following news of the US-Iran truce, the overall situation remains unstable due to uncertainty over the conflict’s future.

“Time will tell how the market evolves and how this will affect consumer prices,” he concluded.

By Jeyhun Aghazada