Gas prices will rise by 3.5{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} in February

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Regulated gas prices applied by Engie will rise by an average of 3.5{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} on Feb.1, driven by a surge in market prices caused by a cold snap in Asia, the regulator said on Monday.

'That increase is 0.9{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} for customers who use gas for cooking, 2.1{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} for dual-use customers, cooking and hot water, and 3.7{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} for households that heat themselves. Gas,' stated the Energy Regulatory Commission (CRE) in a press release.

Due to the increased demand due to cold spells in Asia

'This increase for the month of February is mainly due to the strong demand for liquefied natural gas in Asia, particularly associated with an exceptionally cold spell in East Asia.' 'The result is an increase in gas prices in international markets, which is causing European countries to turn to their natural gas storage facilities,' she continued.

The law provides for regulated gas sales tariffs (TRV) for individuals to be phased out by 2023. They have been removed for professional consumers since December 1st.