Germany's EnBW hikes gas prices by a more than third on Ukraine war

FRANKFURT (Reuters) - Soaring gas procurement costs in the wake of Russia's invasion of Ukraine have led Germany regional utility EnBW to raise prices for the fuel by more than a third, it said on Monday.

Prices for the basic supply of gas will increase by 34.8%, or 2.92 euro cents per kilowatt hour (kWh), as of July 1, 2022, the company said.

"For a sample household with an annual consumption of 20,000 kWh, the costs will increase by approx. 48.58 euros ($51.06) per month," EnBW, whose VNG unit is one of Germany's importers of Russian gas, said.

($1 = 0.9514 euros)

(Reporting by Christoph Steitz; Editing by Maria Sheahan)