OREANDA-NEWS. January 21, 2013. Starting next year, Latvian households will be paying slightly less for natural gas. According to a press release by Latvijas Gaze published in Latvijas Vestnesis newspaper, the gas tariff will be reduced by 1-1.5%. In particular, households whose annual gas consumption does not exceed 500 normal cubic meters will be paying LVL608.67 (VAT included) per 1,000 cu.m and those whose annual gas consumption is between 501 and 25,000 normal cubic meters will be paying LVL401.33 (VAT included) per 1,000 cu.m.

In January, Latvijas Gaze applies a differentiated end tariff corresponding to a sales price for gas of up to LVL225 per 1,000 cu.m compared to LVL230 that was before.

In accordance with general practice in Latvia, gas tariffs for commercial consumers are revised monthly and for households – twice a year: on the 1st of January and the 1st of July. Tariffs are revised depending on the gas purchase price which is tied to prices for petroleum products, currency exchange rates, and storage gas utilization factor.