Natural gas prices in Portugal will drop from 1st October 2019. Rates will drop by 2.2% for the 277,000 consumers that remain in the regulated market, which represents about 3% of the total national consumption. According to the calculations of the Energy Services Regulatory Authority (ERSE), consumers should notice a 50 cents cut in an average monthly bill.
The new prices for the regulated market, approved by ERSE at the end of May, will come into force from the 1st October 2019 and will continue until September 30, 2020. The modification of the period of validity has the "objective of harmonizing European level periods of validity of the tariffs of use of the transport network in interconnections", according to the regulator's statement.
The ERSE also notes that "consumers with a social rate will benefit from a 31.2% discount on temporary sales rates to end customers", advising consumers "to look for potential savings on their natural gas bills at market suppliers, where the applicable natural gas rates will be those defined in the respective contract".
Regarding the network access fees, which are paid by all consumers for the use of the network infrastructure, a decrease of 6.8% was approved for the annual consumption of natural gas less than or equal to 10,000 m3 and a reduction of 21.8% for consumption exceeding 10,000 m3. For corporate clients of medium and high pressure, the cuts were 24.4% and 25.1%, respectively.