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Economy

Price of Natural Gas for Domestic Consumption at 11 Cents per Kilowatt-Hour

October 13, 2022

ATHENS – The price of natural gas for domestic consumption in October is set at 11 cents per kilowatt-hour, according to sources of the “Natural Gas Hellenic Energy Company”, which is the largest supplier in the sector. This price includes taxes as well as the subsidy announced by DEPA, which amounts to 9 cents per kilowatt-hour. Based on this data, the price of natural gas is 20% lower than the price of heating oil, which is estimated to range between 1.42 and 1.45 euros per litre.

The distribution of heating oil will start on Friday, October 14, while its price has been fluctuating sharply lately. Oil price estimates include the 0.25 euro per litre subsidy announced by the government. Subsidies for the beneficiaries of the heating allowance, which this year is granted with expanded criteria, are not included.

Oil market sources estimate that demand, at least in the first days of the winter heating season, will be subdued due to high prices and relatively favourable weather conditions, at least in southern Greece.

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