STA, 7 May 2022 - GEN-I is joining the natural gas suppliers that have already increased prices over the last heating season, announcing a 1 July price hike for "old" clients after raising the price for households and small businesses that switched to GEN-I after 25 February already in winter.
The new price will be EUR 0.060 per kilowatt-hour VAT included, up from EUR 0.032, according to a price list posted on GEN-I's website on Friday. The price without the 22% VAT rate will be EUR 0,049.
This price has already been charged to clients that switched to GEN-I after 25 February, while the existing clients had been guaranteed the old price until the summer.
The clients who signed the contract with GEN-I before 25 February currently pay EUR 0.026 per kWh (VAT excluded), or EUR 0.032 with the tax.
The price will thus be by some 85% higher. But since it accounts for only around 40% of the final bill, bills for clients will be in fact by only around a third higher.
GEN-I said it was regularly monitoring the situation in Europe and the world that impacts the prices of energy products.
While the prices reached historic highs in the second half of 2021, the situation was expected to stabilise after the winter months. However, the war in Ukraine has exacerbated the situation, and therefore "we need to adapt and align our prices to the changes in the purchasing markets", the company said.
Some other suppliers increased natural gas prices for households and small businesses before, with the latest increases coming as of May.
Petrol initially announced new price hikes for April, but postponed them to May, when the heating season practically ends, to soften the blow to its clients.
Its new price is EUR 0.051 per kWh VAT included, up from EUR 0.037.
The government has recently extended for another three months - until the end of July - the regulation reducing excise duties on energy products, including electricity, motor fuels, heating oil and natural gas.
It has, however, decided against extending the cap on regular petrol and diesel, which pushed the retail prices to new highs on 1 May.
