Estonia: Alexela to cut price of natgas to EUR 0.63 from June

TALLINN – Estonian energy group Alexela announced on Thursday that it will lower the price of gas for household customers in the variable price package to 0.68 euros per cubic meter including VAT retroactively from April 1 and to 0.63 euros from June.

"Global market prices have kept moving lower, and the relatively high level of stocks in storage facilities has also contributed to the price decline. The combination of these factors gave us the opportunity to lower the price of household gas for our customers retroactively from April to enable them to save on their monthly energy costs," Kalvi Nou, head of Alexela's energy portfolio, said in a press release.

Before the move announced on Thursday, the price of gas for Alexela's customers on a variable price plan was 0.79 euros per cubic meter.

"At the moment, on a positive note, it seems like the more favorable price level could be maintained in the near future," the executive added.