Greece’s state-run natural gas distributor DEPA and Russian energy giant Gazprom reached an agreement on gas supply with price cuts backdated to last June. The deal announced by Greek Environment Ministry on Tuesday will have immediate impact to private consumers and industry.
Greece’s state-run natural gas distributor DEPA said that the new price will be on the European average of $393/1000 cubic meters.
In the 4Q of 2013, the gas price supply was $460/1000 cubic meters.
The new price will have backdated effect as of 1. July 2013 and the deal will be valid until 2016 with extension option up to 2026.
Big industries and electricity producers will have a reduction of 10.5%, some media report adding that Greece will be finally competitive in the production cost.
According to media,the Greeks had requested a 30% reduction but managed to achieve a 15% and thus after tough negotiation between Gazprom and DEPA and the efforts of Prime Minister Antonis Samaras. Of course.
I don’t know if we – modest consumers – will get money back for the exorbitant prices we have paid and thus in the form of “two future heating years” free of charge 🙂
PS if they asked 30% price reduction and got 15%, why didn’t they ask 60% reduction to get 30% right away? 🙂
