Bulgargaz Seeks 15.7% Hike in Natgas Prices as of July 1

Bulgargaz Seeks 15.7% Hike in Natgas Prices as of July 1

Bulgaria's state-owned gas monopoly Bulgargaz is seeking a 15.73% rise in domestic natural gas prices as of July 1 due to an appreciation of the US dollar against the euro and the need to replenish the gas at the Chiren storage facility.

Bulgargaz has submitted its proposal with the State Energy and Water Regulatory Commission, state-run Bulgarian News Agency reported on Monday.

If the regulator accepts the proposal, natural gas prices will rise to 809.05 levs ($518.89/413.66 euro) per 1,000 cubic metres, excluding excise duty and Value Added Tax (VAT).

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