Today very frequently arises the question of updating natural gas price after entering into contract with the tender in the procedures of public purchases winner. The mechanisms of price change, provided by the legislation, frequently resulted in the fact that at the stage of orders submission prices were substantially lowered and then continued the process of their constant opaque and uncontrollable raising in additional agreements to the contract.

According to Ukrainian legislation, essential terms of purchase contract may be changed after signing it, in particular in the cases of exchange quotations change. For the decision of problem questions of the natural gas price rise in purchase contracts special working group was investigating factors of influence on natural gas price and offered optimum approach to order of price change under the conditions of natural gas market volatility. So, at updating of price it is recommended to take into account changes of currency rate, quotations of German NCG hub and average price of natural gas on CE "Ukrainian energy exchange".

It is expected that using the order of price change the customer will receive execution of auction with a real price of gas and transparent change of prices under the conditions of volatility market.

"Recommendation of the Ministry of economic development and trade of Ukraine became one more acknowledgement that the quotations of CE "Ukrainian energy exchange" are admitted by authorities as a price benchmark on natural gas market", said Oleksii Dubovskyi, Chairman of the Exchange Committee of the Ukrainian Energy Exchange.

The full text of clarification and recommended formula of price change in clarification of the Ministry of economic development and trade of Ukraine can be found following the link: