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Lower gas export prices predicted


Russian gas giant Gazprom sees lower gas prices in the coming year, potentially offering business users a chance to reduce their energy costs.

As we have we have previously explained, oil and gas prices are linked so a lower oil price will also drag down gas prices.

As Jack Farchy reported for the Financial Times, Gazprom’s deputy chief executive Alexander Medvedev said average export prices to non-former Soviet countries are expected to drop by just over 30% from last year’s.

In their financial statements released 29 April, Gazprom said its profits fell by 86% due to foreign exchange expenses (the appreciation of US dollar and Euro against the Ruble) and an unresolved dispute with Ukraine. The profit fall comes soon after the EU charged Gazprom with market abuse.

Lower gas prices for UK businesses

Small businesses should look to take advantage of lower energy prices to switch to a better deal. By fixing your energy contract, you could see benefits for the next two, three or even four years.

SwitchMyBusiness.com offers a straightforward solution, cutting bills by up to 70%, with exclusive supplier rates. Thousands of businesses have already saved an average of £747 per switched meter with a call that takes less than five minutes. For an impartial expert option, fill in the form at the top right of this page or call 0800 411 8830

 

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