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Gas prices compensation to remain until the end of the year in Lithuania

Lithuania’s government approved the allocation of 54 million euros to compensate residents for the high gas prices even during the second half of 2023.

The amount of compensation will amount to 0.63 euros/cubic metre including VAT. This will ensure that natural gas tariffs for domestic consumers will not increase in the second half of the year. In fact, current estimations expect an increase of 40 per cent in natural. gas prices.

On the other hand, a sharp increase is not expected in the electricity prices, thus compensation in this regard is not foreseen. Therefore, the Ministry of Energy is encouraging consumers to review their contracts and choose an electricity supplier. that better meets their needs. On the other hand, a favourable legal environment has been created to ensure the possibility for independent electricity suppliers to reduce prices for households.

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