Vilnius, Nov 5 (IANS): The Parliament of Lithuania approved amendments to five existing laws to mitigate the impact of soaring natural gas and electricity prices on households, local media reported.

The amendments spread out the additional cost households would have to pay for natural gas over five years and postpone the deadline for around 5,00,000 consumers to choose their independent electricity supplier by six months. The amendments will thus slow down the liberalization of the country's electricity market, according to reports by the country's public broadcaster LRT.

The amendments also enable heat producers to purchase more of their natural gas directly from the gas supplier. The regulations currently in force oblige them to purchase at least 50 per cent of their annual gas demand through the gas exchange, Xinhua news agency reported.

According to preliminary estimates, the regulated electricity price for consumers who have not yet chosen their independent supplier would rise by less than 20 per cent from next January.

Regulated natural gas prices are projected to increase by around 20 per cent for consumers using natural gas for cooking and by around 30 per cent for those using it for heating. Without the amendments, natural gas prices would have increased by 51 per cent for cooking and 83 per cent for heating, LRT reported.