Starting on January 1, 2025, suppliers will no longer be able to purchase natural gas at the fixed rate of 24 euros/MWh. Instead, they will need to source gas from storage facilities or purchase it at market prices, which could result in higher consumer costs, warned Laurentiu Urluescu, President of the Association of Energy Suppliers (AFEER).
Urluescu expects natural gas prices to rise beginning in January, although due to existing price caps, the rates will not exceed the maximum allowed. Currently, there is a cap of 0.062 euros/kWh, which helps maintain price stability. With the fixed 24 euros/MWh rate, consumer prices have been around 0.04 euros/kWh, depending on the supplier. He predicts that gas bills could increase by approximately 10% after January 2025.
Under current regulations, from April 1, 2024, to December 31, 2024, natural gas producers must supply gas to household suppliers at the fixed price of 24 euros/MWh. This regulation is in place to ensure an adequate gas supply from both production and storage, as well as to maintain minimum reserves for the winter period from November 1, 2024, to March 31, 2025.
