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    Russia to raise gas prices for industry, except power cos, by 10% in Dec to help producers pay higher taxes

    September 25, 2023 - Interfax Russia & CIS Business and Financial Newswire


      MOSCOW. Sept 25 (Interfax) - Wholesale gas prices for industrial customers in Russia other than power companies will be raised by 10% as of December 1, the socioeconomic development forecast for 2024-2026 published on Friday states.

      "In light of the proposals of federal government agencies, a number of rates will change in the coming year. For example, there are plans to index wholesale gas prices for industrial consumers (with the exception of households, housing and public utility organizations and the electricity sector) by 10% as of December 1, 2023," the document said.

      "The wholesale gas price for certain categories of industrial consumers will be raised by 10.0% as of December 1, 2023 in order for gas producers to generate revenues necessary to cover additional growth of the tax burden in 2024. The gas price increase will not apply to households, as well as power companies and housing and public utility organizations," the document said.

      Gas prices in Russia were previously raised by 8.5% as of December 1, 2022.

      Federal Antimonopoly Service orders to increase regulated natural gas prices for all categories of consumers, both households and commercial, by 8% as of July 1, 2024 and the same amount as of July 1, 2025 were registered in July of this year.

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