Bulgargaz proposes 6.67% cut in May wholesale gas price

Bulgargaz proposes 6.67% cut in May wholesale gas price

Bulgarian public gas supplier Bulgargaz said on Friday that it has proposed a 6.67% decrease in the wholesale price of natural gas to be valid in May.
According to the proposal, the price will fall by 1.68 levs ($0.94/0.86 euro) to 23.52 levs per MWh, excluding VAT and excise duty, Bulgargaz said in a statement.
Last month, Bulgargaz negotiated a 40.3% cut in the price of Russian natural gas imports based on an agreement between the European Commission and the Russian company. Bulgargaz and Russia’s Gazprom changed the pricing formula, setting as its main component the price on the regional markets instead of that of petroleum derivatives.
Bulgarian energy regulations were recently changed and now require Bulgargaz to set the gas price monthly instead of quarterly.
The Energy and Water Regulatory Commission (EWRC) has the final say on the 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 currently imports almost all of the natural gas it needs from Russia. The country intends to diversify half of its imports by the end of this year.

Previous Next
Close
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.