Over 4,500 natural gas customers will benefit from the new tariff, writes LGV in a statement. Turbulent oil prices have had an impact on natural gas prices, leading to a reduction in natural gas energy prices by a total of nine per cent in 2015. In addition, the gas supply contract expired at the end of September and has been tendered into a flexible gas-procurement model with spot deliveries and hedging by means of derivatives market products. Lastly, the energy company Vorarlberger Kraftwerke AG (VKW) from neighbouring Austria has been awarded a contract for a supply volume of around 290 million kilowatt hours per year until the end of 2019. According to VKW, the natural gas volume is procured through its own energy trading services.
For private households, this move represents a price reduction of 0.40 rappen per kilowatt hour beginning 1 October 2016. This means that the energy natural gas price for private households has sunk by a total of 28 per cent on average since October 2015, explains LGV. In comparison to energy suppliers across Switzerland, these are the lowest prices.
VKW announced that it is pleased with the cooperation. Quido Salzmann, director of the energy and distribution division at VKW, said: As a neighbour, we have a powerful natural gas connection and are thus able to meet the companys requirements a long-term, stabile in price and secure gas supply for end customers.