Slovakian Gas Prices Increase

Slovakian gas prices have inched up, while electricity in the central European country is becoming cheaper.

The country's energy regulator decided that natural gas prices will go up by 0.46% from the start of 2013.

Electricity prices are to decrease by an average 3.28%, the Office for Regulation of Network Industries (ÚRSO) said.

The reason for the hike in gas prices is the unfavourable exchange rate of the US dollar and the euro. “Unless the European currency weakens, of which Slovakia has no influence, gas for households might even get cheaper,” Jozef Holjenčík, the chairman of ÚRSO, said as cited by the SITA newswire.

 The gas utility SPP failed in October to push through a proposal to increase gas prices for households by 25%.