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BUSINESS SHORTS

Regulator approves heating price hike

PRICES for heating rose by 5 to 6 percent on average as of October 1 after the energy market regulator factored in rising global oil prices to household heating rates.

Miroslav Lupták, spokesman for the Bureau for the Regulation of Network Industries, said that the regulator had approved heat price increases for all 92 heating plants that applied.

"Heat prices were set for 2006 with reference to a nine-month average price for Brent crude of $60.1 per barrel and an exchange rate of 31.5 crowns to the US dollar. However, the actual price is $63.8 per barrel while the exchange rate is 30.5 crowns to the dollar," Lupták said.

Heating prices for households rose 17 percent on average at the beginning of this year.

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