Imported gas costs will be passed straight through to power prices, and as a result power prices could jump sharply, a challenge for a country where inflation hit a worrying 14-year high in January. While LNG prices have dropped from record highs hit last year amid Europe’s scramble for gas, they are expected to rise again as demand climbs for winter, and as Hong Kong, Vietnam and the Philippines all become first-time LNG buyers this year. LNG is currently about $1-$3/mmBtu costlier than Philippine gas, based on a $70 a barrel oil price, two analysts said, which could lead to a 15%-35% increase in the cost of power generated from imported fuel.