Baltic nation to see gas tariffs double

Latvian households face higher energy bills after the country halts Russian supplies

Gas tariffs for Latvian households are expected to surge by nearly 90%, the country’s energy company Latvijas Gaze said on Friday, as quoted by Latvijas Vestnesis, the country’s government gazette.

The company, which deals in the importation and sale of natural gas, announced it was planning to increase natural gas tariffs between 65.6% and 89.9%, depending on consumption.

Starting July 1, gas bills for households with annual consumption of up to 250 cubic meters will soar by 65.6%, from €1.10209 per cubic meter to €1.8252 per cubic meter. Those consuming up to 500 cubic meters of gas per year will see the tariff surge 74.7%, from €0.96649 per cubic meter to €1.6896. Households that consume over 500 cubic meters of gas annually will see a tariff increase of 89.9%, from €0.80405 per cubic meter to €1.52715.

READ MORE: Baltic nation tops eurozone inflation chart

Latvia, Estonia and Lithuania have stopped importing Russian gas as part of an effort by the Baltic countries to cut energy dependence on Moscow. They have also rejected Moscow’s new payment demand for natural gas in rubles.

Latvia imports up to 80% of its gas from Russia.

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