OREANDA-NEWS  From July 1, 2024, gas prices for all consumers in Russia will increase by eight percent. The corresponding indexation was approved by the Federal Antimonopoly Service (FAS), the documents are published on the official portal of legal information.

The cost of gas will rise for all consumers — both for industry and for the population, the FAS warned. The next increase is scheduled for July 1, 2025, also by eight percent. At the same time, in September last year, the Ministry of Economic Development assumed that the price increase in both cases would be seven percent. In earlier forecasts of the department, the tariff was supposed to increase by five percent in 2022, and by four percent in 2023 and 2024

The last time gas prices were raised on December 1, 2022, the indexation was 8.5 percent. According to the FAS, the funds received will be directed to the gasification of the regions and the construction of new gas pipelines, support for repair and investment programs, which is necessary to provide high-quality services to the population. The Ministry of Energy stressed that the price increase will allow maintaining reliable supply of gas to the end consumer through the implementation of investment programs of companies.

Earlier, Russia postponed the entry into force of new gas supply rules. It was postponed from September 1, 2023 to March 1, 2024 due to contradictions between suppliers and consumers. Suppliers demand a reduction in the "flexibility" of gas extraction within a month, up to the complete abandonment of the corridor and the consolidation of the take-or-pay principle ("take or pay"). Buyers believe that the tightening of the rules will cause a negative multiplier effect — their costs will increase both for the purchase of gas and electricity.