Bulgargaz Proposes 3.51% Hike in Q1 Wholesale Gas Price

Bulgargaz Proposes 3.51% Hike in Q1 Wholesale Gas Price

Bulgarian public gas supplier Bulgargaz said on Monday that it has proposed a 3.51% increase in the wholesale price of natural gas, to be valid in the first quarter of 2019.According to the proposal, the price will rise by 1.52 levs to 44.80 levs ($26.14/22.91 euro) per MWh, excluding VAT and excise duty, Bulgargaz said in a statement. Bulgarian energy regulations require Bulgargaz to set the gas price quarterly, taking into account global oil prices and the lev/dollar exchange rate. The Energy and Water Regulatory Commission (EWRC) has the final say on proposed changes in the wholesale price, at which the state-owned company sells natural gas to end-suppliers and customers directly connected to its transmission network. Bulgaria imports almost all the natural gas it needs from Russia via a pipeline crossing Ukraine, Moldova and Romania.

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