Central Switzerland Energy supplier WWZ in Zug increases gas prices in October

The Zug-based energy company WWZ is increasing its gas prices by 0.3 centimes per kilowatt hour as of October 1, 2024. WWZ cites high demand and limited supply as the reason for the increase.

After easing last year, procurement prices are now rising again slightly, as WWZ wrote in a press release on Tuesday. The main reasons are economic and political influences as well as a tight global gas supply.

Influential suppliers such as Russia have reduced their exports and other countries are not in a position to completely fill these gaps, according to WWZ. Technical problems in production facilities such as those in Norway and the Netherlands, rising transportation costs, bottlenecks in liquefied natural gas tankers and overloaded liquefied natural gas import terminals in Europe and Asia are further exacerbating the situation.

In March 2024, gas prices were reduced by 2.5 centimes per kilowatt hour due to lower procurement costs. According to the WWZ press release, this was too "optimistic" at the time. In July, the company was forced to reverse the price reduction and reduce it to 0.6 centimes.